SuperMicro Computers Inc. (SMCI) Stocks Elliott Wave Technical Analysis
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By grozavoron · Posted
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By tradinglounge · Posted
JSW STEEL – JSWSTEEL (1D Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate Degree orange) Mode: Motive Structure: Impulse Position: Minute Wave ((iv)) Navy Details: Minute Wave ((iv)) Navy is now correcting lower or potentially complete around 980 mark, within Minor Wave 5 of Intermediate Wave (5) Orange. Potential target is seen towards 1093 mark. Invalidation point: 960. Risk tightened JSW Steel Daily Chart Technical Analysis and potential Elliott Wave Counts: JSW Steel daily chart is indicating one more potential push higher through 1093 mark to terminate Minute Wave ((v)) Navy of Minor Wave 5 Grey within Intermediate Wave (5) Orange. Please note the fifth wave is terminating at multiple degree around 1093 hence a much larger degree correction could be followed. JSW Steel stock prices has risen since May 2022 after printing lows around 520 mark, Intermediate Wave (4) Orange. Minor Wave 3 was extended and Minute Wave ((iii) of 3 was also an extension. Minor Wave 4 Grey terminated around 830 levels on June 04, 2024. Minor Wave 5 has been unfolding since 830 lows and is well poised to push through 1093. Furthermore, minute Waves ((i)) through ((iv)) look complete and prices should turn higher soon. Ideally. The stock should hold above 960 mark to keep the impulse structure intact. JSW STEEL – JSWSTEEL (4H Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate Degree orange) Mode: Motive Structure: Impulse Position: Minute Wave ((iv)) Navy Details: Minute Wave ((iv)) Navy is now correcting lower or potentially complete around 980 mark, within Minor Wave 5 of Intermediate Wave (5) Orange. If correct, Minute Wave ((v)) should resume higher soon towards potential target around 1093 mark. Invalidation point: 960. JSW Steel 4H Chart Technical Analysis and potential Elliott Wave Counts: JSW Steel 4H chart highlights the sub waves after printing Minor Wave 4 low around 830 mark. Looks like a potential impulse underway towards 1093 and key remains around 960 levels. Conclusion: JSW Steel is progressing higher towards 1093 mark as Minute Wave ((v)) is about to resume within Minor Wave 5 Grey of Intermediate Wave (5) Orange; against 960. Elliott Wave Analyst: Harsh Japee Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
Copper Elliott Wave Analysis Copper retreats lower from the high of September 2024. The fall is correcting the August & September 2024 bullish run. It appears the bullish run will resume after the current sell-off is completed. Daily Chart Analysis From the long term, price is unfolding into a diagonal structure from the lows of March 2020. On the daily chart, wave I of the cycle degree finished in March 2022 before a decline for II that ended in July 2022. Wave III and IV were finished in May 2024 and AUgust 2024 respectively. The current resurgence from the lows of AUgust 2024 is expected to be wave V after which a larger pullbackcan begin to correct the entire diagonal 5-wave structure from March 2020. Wave V is expected to be corrective i.e unfolds in a 3-wave structure. It now appears wave ((A)) of V finished in September 2024 leading to the current pullback for ((B)). The H4 chart can help using the sub-waves to determine how far wave ((B) has gone and further it could go. H4 Chart Analysis On the H4 chart, wave ((A)) completed an impulse 5-wave structure. Current pullback for ((B)) is emerging into a double zigzag structure. By projection, wave (Y) of ((B)) could continue lower to 4.083. If the price doesn’t reach that level and makes a significant 5-waves resurgence toward the highs of October, then we can confirm wave ((B)) has finished and ((C)) on the way. Otherwise. short term appears to favored the down side to 4.083 Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!
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