Cochlear Limited Elliott Wave technical forecast [Video]

Peter Mathers TradingLounge

Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COCHLEAR LIMITED - COH.

We observe that COH has concluded wave ((4)) - navy as a Triangle, and wave ((5)) - navy is poised to advance.

ASX: COH Elliott Wave technical analysis

1D Chart (Semilog Scale) Analysis

Function: Major trend (Primary degree, navy).
Mode: Motive.
Structure: Impulse.
Position: Wave ((5)) - navy.
Details: Wave ((4)) - navy seems to have ended at the low of 318.39 as a Triangle, and wave ((5)) - navy is unfolding to move higher, targeting around 386.63 - 400.00 or beyond. The invalidation point is 318.39.

COH Elliott Wave technical analysis – One-day chart

COH Elliott Wave four-hour chart analysis

Function: Major trend (Primary degree, navy).
Mode: Motive.
Structure: Impulse.
Position: Wave ((5)) - navy.
Details: Wave ((4)) - navy has just concluded at the low of 318.39 as a Triangle, and wave ((5)) - navy is likely to push higher, provided the price remains above 318.39. The target is 400.00 or beyond. The invalidation point is 318.39.

Conclusion

Our analysis, forecast of contextual trends, and short-term outlook for ASX: COCHLEAR LIMITED - COH aim to provide readers with insights into current market trends and strategies to capitalize on them effectively. We offer specific price points 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 market trend analysis.

Cochlear Limited Elliott Wave technical forecast [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.

AUD/USD sticks to positive bias above 0.7100; lacks bullish conviction

AUD/USD trades with a positive bias for the second straight day, holding above 0.7100 in the Asian session on Friday as softer US bond yields keep US Dollar bulls on the back foot. Furthermore, hawkish RBA Governor Bullock's comments boost rate hike bets and support the Aussie. However, the Fed's hawkish outlook, along with geopolitical uncertainties, limits USD losses and caps the pair.

USD/JPY approaches 158.00 as Japanese Yen resumes decline

USD/JPY is resuming its upside in the European session on Friday, refreshing two-week highs and nearing 158.00. The Japanese Yen extends losses, despite the Bank of Japan's (BoJ) expected rate hike to 1.25% and hawkish Governor Ueda's comments, as two surprise dissents against the rate hike weigh on it.

Gold keeps the bid tone in place; still below $4,400

Gold adds to the optimism seen in the second half of the week, trading with decent gains just below the $4,400 mark per troy ounce on Friday. The precious metal’s advance finds traction in declining crude oil prices and fresh selling pressure on the US Dollar.

Why altcoin season isn't coming back — and what stole its capital

If, after two years of being frozen in ice, Katara and Sokka woke you up to the crypto market, it would seem like 100 years have passed. With Bitcoin soaring to record highs just over a year ago, everyone expected a routine altcoin season, where investors take profits from the top crypto to chase higher returns in altcoins.

BoJ Recap: Not as hawkish as expected

The BoJ raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks. Governor Kazuo Ueda said the policy phase had changed.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.