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By tradinglounge · Posted
ASX: REA GROUP LTD – REA Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with REA GROUP LTD – REA. We identified that wave 2-red may have just ended, and wave 3-red could push much higher. ASX: REA GROUP LTD – REA Elliott Wave Technical Analysis ASX: REA GROUP LTD – REA 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave 3-red Details: The short-term outlook suggests that the 2-red wave appears to have recently completed as a Double Zigzag correction, and the 3-red wave may be ready to push higher. Further upward movement would confirm this outlook. Invalidation point: 140.50 ASX: REA GROUP LTD – REA Elliott Wave Technical Analysis TradingLounge (4- Hour Chart) ASX: REA GROUP LTD – REA Elliott Wave Technical Analysis ASX: REA GROUP LTD – REA 4-Hour Chart Analysis Function: Major trend (Minuette degree, purple) Mode: Motive Structure: Impulse Position: Wave (iii)-purple Details: The near-term outlook suggests that the 2-red wave has concluded in the form of a Double Zigzag pattern at the low of 172.49, allowing for the possibility of the 3-red wave to resume and push higher. Currently, it is subdivided into the (i) and (ii)-purple waves, and it appears that the (ii)-purple wave has recently ended. The (iii)-purple wave may now be unfolding to push higher. Invalidation point: 172.49 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: REA GROUP LTD – REA 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). Source : Tradinglounge.com get trial here! -
Asian shares rose on Tuesday while the yen wobbled amid a suspicion that Japanese authorities had intervened in currency markets to support the yen. However, the government did not confirm whether it had actually taken action to prop up the currency. Top currency diplomat Masato Kanda said the government will disclose the results of any market operations at the end of next month and will continue taking appropriate action in the foreign exchange market as deemed necessary. Caixan China manufacturing growth hit a 14-month peak while investors look to German, French and Eurozone preliminary Q1 GDP growth, inflation and retail sales data ahead of Wednesday's US FOMC meeting. -
By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart NEO/ U.S. dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave B Direction Next higher Degrees: Wave (II) of Impulse Wave Cancel invalid Level: 9.85 Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level NEO/ U.S. dollar(NEOUSD)Trading Strategy: Second wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to join the uptrend again. NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Elliott Wave Analysis TradingLounge H4 Chart NEO/ U.S. dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave B Direction Next higher Degrees: Wave (II) of Impulse Wave Cancel invalid Level: 9.85 Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level NEO/ U.S. dollar(NEOUSD)Trading Strategy: Second wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to join the uptrend again. NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!
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