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By tradinglounge · Posted
ASX: RESMED INC - RMD Elliott Elliott Wave Technical Analysis TradingLounge Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with RESMED INC - RMD. We see RMD preparing to move up with the third wave. ASX: RESMED INC - RMD 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, grey) Mode: Motive Structure: Impulse Position: Wave ((iii))-navy of Wave 3-grey Details: Wave ((ii))-navy may have ended, and wave ((iii))-navy is unfolding to push higher. It is possible that wave ((iii))-navy is unfolding to push higher, towards the next target at 40.00 – 50.00. Invalidation point: 34.19 ASX: RESMED INC - RMD 4-Hour Chart Analysis Function: Major trend (Minuette degree, navy) Mode: Motive Structure: Impulse Position: Wave (iii)-orange of Wave ((iii))-navy Details: Wave ((iii))-navy is probably unfolding since 34.19, and it is probably subdividing into wave (i),(ii)-orange, basically wave (ii)-orange can push down a little bit further, aiming at the target around 36.05 - 35.24, and then wave (iii)-orange can return when price pushes higher than wave B of wave (ii)-orange. On the contrary, if price continues to break through 35.24, it will immediately trigger the ALT replacement scenario, indicating that the whole wave ((ii))-navy is not really completed and needs to push down further. Invalidation point: 34.19 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: RESMED INC - RMD 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). Tags: #ASX #Stock #ALL #ElliottWave #TradingLounge #ASX200 #ASXStocks -
By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Vechain/ U.S. dollar(VETUSD) VETUSD Elliott Wave Technical Analysis Function: Counter trend Mode: Corrective Structure: Double Corrective Position: Wave ((Y)) Direction Next higher Degrees: wave II of Impulse Wave Cancel invalid Level: Details: Wave II may not be complete, price is likely to be below 0.01781. Vechain/ U.S. dollar(VETUSD)Trading Strategy: The wave II correction is entering the late decline phase, so the overall picture is a short-term correction to continue up in wave III. Look for an opportunity to join the uptrend when the correction is complete. Vechain/ U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum. Vechain/ U.S. dollar(VETUSD) VETUSD Elliott Wave Technical Analysis Function: Counter trend Mode: Corrective Structure: Double Corrective Position: Wave ((Y)) Direction Next higher Degrees: wave II of Impulse Wave Cancel invalid Level: Details: Wave II may not be complete, price is likely to be below 0.01781. Vechain/ U.S. dollar(VETUSD)Trading Strategy: The wave II correction is entering the late decline phase, so the overall picture is a short-term correction to continue up in wave III. Look for an opportunity to join the uptrend when the correction is complete. Vechain/ U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here! #tradinglounge -
By tradinglounge · Posted
The U.S. stock markets are currently experiencing a bullish trend, with any recent downward movements considered part of a bullish corrective pattern according to Elliott Wave analysis. Trading activities are being temporarily paused until after the U.S. elections, as this week is expected to be highly active due to 622 earnings reports and the Federal Reserve meeting scheduled for November 7th. Key Elliott Wave Analysis: S&P 500 (SPX): In Wave 4, with three bullish wave counts under consideration. NASDAQ 100 (NDX): Progressing through Wave 4. Apple (AAPL): Entered Wave (2), indicating a corrective phase. Amazon (AMZN): In Wave iv) of 5 of (1), suggesting a minor correction within an overall upward trend. NVIDIA (NVDA): Advancing in Wave 1 of (5), pointing to the beginning of a new upward impulse. Meta Platforms (META): Nearing completion of Wave 4, potentially setting the stage for Wave 5 upward movement. Netflix (NFLX): Completed a Wave 4 Triangle pattern, indicating a possible breakout. Alphabet (GOOGL): Currently in Wave 4, suggesting a corrective phase before the next upward impulse. Microsoft (MSFT): Holding at the 400 support level, in Wave A of (2), which may be the start of a larger corrective pattern. Tesla (TSLA): Moving through Wave 4 of (1), indicating a short-term correction. Bitcoin (BTC): In Wave 4, suggesting a consolidation phase before potential upward movement. Trading Strategy Insight: Investors are advised to monitor these developments closely, especially in light of the upcoming U.S. elections and significant economic events this week. The Elliott Wave patterns indicate that while short-term corrections are occurring, the overall market trend remains bullish. Combining this technical analysis with fundamental factors will be crucial for making informed trading decisions. Analyst Peter Mathers TradingLounge Source: tradinglounge com
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