Unlocking ASX Trading Success: COCHLEAR LIMITED - COH Stock Analysis & Elliott Wave Technical Forecast

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ASX: COCHLEAR LIMITED - COH Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)

 

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COCHLEAR LIMITED - COH. We identify in the short term that COH could decline lower to complete a Zigzag Correction with wave ((ii))-green, followed by a potential resurgence of wave ((iii))-green to push higher.

 

 

ASX: COCHLEAR LIMITED - COH Elliott Wave Technical Analysis  

ASX: COCHLEAR LIMITED - COH 1D Chart (Semilog Scale) Analysis

 

Function: Major trend (Minor degree, red)
Mode: Motive
Structure: Impulse
Position: Wave ((ii))-green of Wave 5-red
Details: The short-term outlook indicates that the red wave 5 is currently unfolding to push higher, subdividing into the green wave ((i)). Currently, the green wave ((ii)) is unfolding to push lower. The reason for counting this wave is because I observe that the red wave 1 and the red wave 3 are relatively equal in size in terms of price, so this provides a useful guideline to anticipate an extended red wave 5.
Invalidation point: 283.70 

 

 

 

ASX: COCHLEAR LIMITED - COH Elliott Wave Technical Analysis
TradingLounge (4-Hour Chart)

 

ASX: COCHLEAR LIMITED - COH Elliott Wave Technical Analysis

ASX: COCHLEAR LIMITED - COH 4-Hour Chart Analysis

Function: Major trend (Minute degree, green)
Mode: Motive
Structure: Impulse
Position: Wave (c)-purple of Wave ((iii))-green

Details: The further short-term outlook indicates that the green wave ((i)) has peaked, and the green wave ((ii)) is currently unfolding to push lower. The typical target for the second wave often seeks around the 61.8% retracement level (307.42), or it could be lower at (c) = 1.618 x (a) at 300.4. This is also a common boundary of the green wave ((ii)), followed by the potential return of the green wave ((iii)) to push even higher. While price maintaining below 330.12 will be an advantage and extremely good resistance for this bearish view.
Invalidation point: 283.70

 

 

 

 

Conclusion:  

Our analysis, forecast of contextual trends, and short-term outlook for ASX: COCHLEAR LIMITED - COH aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.

 

Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).