Cochlear Limited – COH Elliott Wave technical forecast [Video]
|Cochlear Limited – COH Elliott Wave technical analysis
Overview
Today’s Elliott Wave analysis updates the COCHLEAR LIMITED (COH) position on the Australian Stock Exchange (ASX). We observe the recent completion of a corrective ABC wave, opening the door for a bullish impulse wave in ASX:COH. This analysis outlines potential price targets, probable market direction, and key invalidation points for maintaining the bullish stance.
Cochlear Limited – COH one-day chart (semilog scale) analysis
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Function: Major Trend (Intermediate degree, Orange).
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Mode: Motive.
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Structure: Impulse.
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Position: Wave 5)) - navy.
Technical insight:
Wave 4)) - navy seems to have finished forming the corrective pattern labeled A, B, C) - orange. The chart now suggests the start of an upward move into Wave 5)) - navy. This setup supports the bullish view and projects a likely return to the high at wave 3)) - navy, around $350.00.
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Invalidation Point: 246.14.
Cochlear Limited – COH Elliott Wave technical analysis
Chart details:
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Function: Major Trend (Intermediate degree, Orange).
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Mode: Motive.
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Structure: Impulse.
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Position: Wave B - grey of Wave 2) - orange.
Technical insight:
Following the 246.140 low, wave 1) - orange formed a Leading Diagonal. This indicates that wave 2) - orange may retrace significantly. The pattern shows that wave A of 2) is complete, and waves B and C - grey are next. Expect a final dip with wave C - grey before a potential strong rally in wave 3) - orange.
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Invalidation point: 246.140.
Conclusion
Our COCHLEAR LIMITED (COH) analysis combines short-term technical setups with broader market trends to help traders and investors make informed decisions. We highlight key validation/invalidation levels to reinforce the confidence in our Elliott Wave structure. The goal is to offer a precise and professional market forecast.
Cochlear Limited – COH Elliott Wave technical forecast [Video]
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