Northern Star Resources Ltd – NST stock analysis and Elliott Wave technical forecast [Video]
|ASX: NST Elliott Wave technical analysis – One-day chart
Today’s Elliott Wave update focuses on NORTHERN STAR RESOURCES LTD – NST listed on the Australian Stock Exchange (ASX).
Our technical analysis suggests that ASX:NST is likely entering a short-term bearish trend, potentially heading towards 16.86. Based on our assessment, a bullish reversal is not expected at this point.
-
Trend function: Major Trend (Minor Degree - Grey).
-
Market mode: Motive.
-
Wave structure: Impulse.
-
Wave position: Wave C) - Orange of Wave 4)) - Navy.
Detailed outlook
Currently, Wave 4)) - Navy is unfolding downward, appearing to develop as an ABC - Orange Zigzag.
Wave A)B) - Orange seems completed, and since the high at 22.78, Wave C) - Orange has likely started to move lower.
The projected target is around 16.86, showing no signals of a bullish setup.
- Invalidation level: 23.78.
NST Elliott Wave technical analysis – Four-hour chart
-
Trend function: Major Trend (Minor Degree - Grey).
-
Market mode: Motive.
-
Wave structure: Impulse.
-
Wave position: Wave C) - Orange of Wave 4)) - Navy.
Details:
In the shorter 4-hour timeframe, no bullish evidence is observed.
After the high at 22.78, Wave C) - Orange appears to continue declining toward 16.86.
- Invalidation level: 22.78
Conclusion
This analysis delivers a contextual understanding of short-term trends for ASX: NST.
We identify key levels that act as validation or invalidation signals, aiding the accuracy of our wave counts.
Our goal is to offer a clear, professional insight into current market trends, helping traders make informed decisions.
NST stock analysis and Elliott Wave technical forecast [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.