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By tradinglounge · Posted
BRITANNIA INDUSTRIES – BRITANNIA (1D Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate degree, orange.) Mode: Motive Structure: Impulse/Diagonal Position: Minute Wave ((iv)) Details: Minute Wave ((iv)) Navy might be unfolding within Minor Wave 3 of Intermediate Wave (5) against 5950. Invalidation point: 5730 Britannia Industries Daily Chart Technical Analysis and potential Elliott Wave Counts Britannia Industries daily chart is indicating a progressive rally, which could be unfolding Minor Wave 3 Grey, within Intermediate Wave (5) Orange towards 7050 at least and up to 8000 levels going forward. The stock should ideally stay above 5730-40 range to keep the bullish structure intact. Britannia Industries has been rallying since November 2023 after printing lows around 4300-50 range, terminating Intermediate Wave (4) Orange. Furthermore, Minor Waves 1 and 2 Grey seems to have terminated around 5170 and 4650 levels respectively. Minor Wave 3 Grey has been unfolding against 4650 mark and is sub dividing within a potential impulse. Minute Waves ((i)) through ((iv)) might be complete and Minute Wave ((v)) might be underway higher soon. The stock should hold above 5740 mark for impulse to complete. BRITANNIA INDUSTRIES – BRITANNIA (4H Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate degree, orange.) Mode: Motive Structure: Impulse/Diagonal Position: Minute Wave ((iv)) Details: Minute Wave ((iv)) Navy might be unfolding or near to complete within Minor Wave 3 of Intermediate Wave (5) against 5730. If correct, Minute Wave ((v)) could resume higher towards 7060. Invalidation point: 5730 Britannia Industries 4H Chart Technical Analysis and potential Elliott Wave Counts: Britannia Industries 4H chart is indicative of potential Minute Wave ((v)) Navy complete around 5910 mark at the time of writing. If correct, the stock should progress higher from here, as Minute Wave (v) of Minor Wave 3 resumes. Conclusion: Britannia Industries could be ready to push higher from 5910 lows print on October 14, 2024; as minute Wave ((v)) of Minor Wave 3 Grey begin to unfold. Elliott Wave Analyst: Harsh Japee Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
UNH Elliott Wave Analysis Trading Lounge Daily Chart, United Health Group Inc.,(UNH) Daily Chart UNH Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minor wave 5 DIRECTION: Upside within wave 3. DETAILS: Looking for a bottom in wave 4 to be in place or near completion and consequently further upside towards MediumLevel at 650$. United Health Group Inc., (UNH) 1H Chart UNH Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minute wave {iii}. DIRECTION: Upside in wave {iii}. DETAILS: Looking for a potential {i}-{ii} completed within wave 5 as I can identify five waves within {i}. We now need tested support on top of 600$. This Elliott Wave analysis for United Health Group Inc., (UNH) examines both the daily and 1-hour charts to assess its current market trend, utilizing Elliott Wave Theory to anticipate potential future movements. * META Elliott Wave Technical Analysis – Daily Chart* On the daily chart, United Health Group (UNH) is completing or has nearly completed wave 4, suggesting that the next upward move in Minor wave 5 is approaching. This upward movement is expected to target the MediumLevel at $650. The correction in wave 4 appears to be finishing, and once confirmed, the continuation of the uptrend towards higher levels can be anticipated. * META Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, UNH seems to have completed a five-wave move in wave {i} of Minor wave 5. Currently, wave {ii} might be in progress, and once a solid support level above $600 is established, the stock should resume its upward movement into wave {iii}. Testing this support zone will be crucial for confirming the next leg higher. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
NASDAQ Elliott Wave Analysis Trading Lounge Day Chart NASDAQ Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Navy Blue Wave 3 Position: Gray Wave 3 Direction (Next Lower Degrees): Navy Blue Wave 4 Details: Navy Blue Wave 2 completed, Navy Blue Wave 3 in play Wave Cancel Invalid Level: 18,295.9 Analysis Overview The NASDAQ Elliott Wave analysis on the daily chart suggests the market is in a bullish trend with an impulsive wave structure, currently unfolding as navy blue wave 3. The ongoing movement places the market in gray wave 3, indicating the trend is gaining momentum in this advanced stage of the impulsive phase. Wave Structure & Position With navy blue wave 2 completed, the market is now progressing through navy blue wave 3, a wave associated with strong and sustained upward movement. According to Elliott Wave theory, this phase often indicates a continuation of the bullish trend. Once navy blue wave 3 concludes, the next phase will be navy blue wave 4, which might introduce a temporary correction before the broader uptrend resumes. Key Details The market has completed navy blue wave 2 and is firmly in navy blue wave 3, suggesting the upward momentum will continue. Wave Cancel Invalid Level: If the market drops below 18,295.9, the current wave count will be invalidated, requiring a revised analysis of the market structure. Summary The NASDAQ is in a strong upward trend, with navy blue wave 3 driving the current movement. Further gains are expected as long as the market remains above 18,295.9. Analysts should monitor for potential corrections as the market transitions into navy blue wave 4 in the near future. NASDAQ Elliott Wave Analysis Trading Lounge Weekly Chart NASDAQ Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Gray Wave 3 Position: Orange Wave 5 Direction (Next Lower Degrees): Gray Wave 4 Details: Gray Wave 2 completed, Gray Wave 3 in play Wave Cancel Invalid Level: 18,295.9 Analysis Overview The NASDAQ Elliott Wave analysis on the weekly chart shows the market is in a strong upward trend, characterized by an impulsive wave structure currently unfolding within gray wave 3. The position within the wave cycle places the market in orange wave 5, indicating the trend is advancing toward the later stages of this impulse sequence. Wave Structure & Position With gray wave 2 completed, the market is now progressing through gray wave 3, typically associated with robust bullish momentum. This suggests that the upward trend is likely to continue. Once gray wave 3 concludes, the market is expected to enter gray wave 4, introducing a temporary corrective phase before the overall bullish trend resumes. Key Details Gray wave 3 is still unfolding, signaling further upward movement in the NASDAQ in the near term. After the completion of gray wave 3, gray wave 4 is expected to bring a corrective pullback before the market continues its broader upward trajectory. Wave Cancel Invalid Level: If the market falls below 18,295.9, the current Elliott Wave count will be invalidated, requiring a new wave analysis. Summary The NASDAQ is currently in a strong upward trend, with gray wave 3 driving the market higher. Traders should expect further gains while monitoring for a potential correction when the market transitions into gray wave 4. The bullish outlook remains valid as long as the market stays above 18,295.9. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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