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Cochlear Limited Elliott Wave technical forecast [Video]

Peter Mathers TradingLounge

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COCHLEAR LIMITED - COH. We have identified a potential opportunity with wave ((v))-green opening up to push higher, following the wave ((iv))-green that just ended.

ASX: COH Elliott Wave technical analysis

ASX: COCHLEAR LIMITED - COH 1D Chart (Semilog Scale) Analysis.

Function: Major trend (Minor degree, red).

Mode: Motive.

Structure: Impulse.

Position: Wave ((v))-green of Wave 5-red.

Details: The short-term outlook indicates that wave 5-red is unfolding to push higher, while wave ((iv))-green appears to be nearing completion. This sets the stage for the resurgence of wave ((v))-green to push higher, targeting 371.48. While price sustaining above the 323.00 level would be a significant advantage and provide good support for this outlook.

Invalidation point: 305.80.

ASX: COCHLEAR LIMITED - COH Elliott Wave Technical Analysis TradingLounge (4-Hour Chart).

ASX: COCHLEAR LIMITED - COH Elliott Wave Technical Analysis.

ASX: COH four-hour chart analysis

Function: Major trend (Minor degree, red).

Mode: Motive.

Structure: Impulse.

Position: Wave ((v))-green of Wave 5-red.

Details: The shorter-term outlook suggests that wave ((iv))-green appears to have just concluded around 323.00, and wave ((v))-green is now unfolding to push higher. It is targeting an immediate goal around 358.76, or possibly even further to 371.48, while the price must remain above the 323.00 level.

Invalidation point: 323.00.

Conclusion:

Our analysis, forecast of contextual trends, and short-term outlook for ASX: COCHLEAR LIMITED - COH 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.

ASX: COH Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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