Cochlear Limited Elliott Wave technical forecast [Video]

ASX: COCHLEAR LIMITED – COH Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart).

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COCHLEAR LIMITED - COH. We see COH likely to push higher with a ((5))-navy wave.

ASX: COH one-day chart analysis

Function: Major trend (Primary degree, navy).

Mode: Motive.

Structure: Impulse.

Position: Wave ((5))-navy.

Details: Wave ((4))-navy has ended and wave ((5))-navy is unfolding to push higher, we will have a Long Trade Setup when I see the Major Level 300.00 becoming a tested support. I will analyze wave ((5))-navy in more detail on the 4H chart.

Invalidation point: 272.75.

ASX: COH four-hour chart analysis

Function: Major trend (Minute degree, navy).

Mode: Motive.

Structure: Impulse.

Position: Wave (1)-orange of Wave ((5))-navy.

Details: Since the low at 272.75 wave (1)-orange is unfolding, and it has pushed quite high, so basically it can push a little higher, then wave (2)-orange will unfold to push lower, and finally wave (3)-orange will return to continue the role of pushing higher. The bullish view will remain valid for wave (1) while price must always stay above 286.92, otherwise pushing lower shows wave (2)-orange is unfolding.

Invalidation point: 272.75.

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.

Cochlear Limited Elliott Wave technical forecast [Video]