Northern Star Resources Ltd Elliott Wave technical forecast [Video]
|Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NORTHERN STAR RESOURCES LTD – NST. Our recently updated forecast for NST in the Top 50 ASX Stocks service is still active. We have identified a bullish opportunity with NST, setting up wave (iii)-purple of wave ((iii))-blue that could push much higher.
ASX: Northern Star Resources Ltd – NST Elliott Wave technical analysis
Function: Major trend (Intermediate degree, blue).
Mode: Motive.
Structure: Impulse.
Position: Wave (iii)-purple of Wave ((iii))-green of Wave 3-red of Wave (3)-blue.
Recent analysis: Accurate forecast.
Details: The detailed short-term outlook shows that wave (3)-blue is unfolding, subdividing into waves 1 and 2-red, which have completed, and wave 3-red is currently unfolding to push higher. At a smaller degree, wave (iii)-purple is opening to push even higher, targeting an immediate objective around 16.30, while maintaining a price above 14.19 is an advantage and strong support for this bullish outlook.
Invalidation point: 13.4 .
ASX: Northern Star Resources Ltd – NST four-hour chart analysis
Function: Major trend (Minute degree, green).
Mode: Motive.
Structure: Impulse.
Position: Wave (iii)-purple of Wave ((iii))-green.
Details: The shorter-term outlook indicates that the (iii)-purple wave seems to be unfolding to push higher. It is subdividing into the i-blue and ii-blue waves, with the ii-blue wave potentially just completed. The iii-blue wave might be ready to push higher as long as the price remains above the support level at 14.19, which would be advantageous for this perspective.
Invalidation point: 13.40.
Conclusion
Our analysis, forecast of contextual trends, and short-term outlook for ASX: NORTHERN STAR RESOURCES LTD – NST 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.
Northern Star Resources Ltd Elliott Wave technical forecast [Video]
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