Cochlear Limited Elliott Wave technical forecast [Video]

Peter Mathers TradingLounge

COH Elliott Wave technical analysis

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COCHLEAR LIMITED - COH. We see that ASX:COH is about to complete wave (2)-orange, and is about to make a push higher with wave (3)-orange. Additionally, we also provide important Key points to confirm which trend is starting at that point.

COH one-day chart (semilog scale) analysis

Function: Major trend (Primary degree, navy).

Mode: Motive.

Structure: Impulse.

Position: Wave (2)-orange of Wave ((5))-navy.

Details: Wave (1)-orange just completed as a Diagonal, and wave (2)-orange is unfolding to push a little lower, then wave (3)-orange will return to push higher. We can also place a pending buy position at the top of wave (1). Additionally, a strong push above 309.63 is also a sign that wave (3)-orange is unfolding.

Invalidation point: 272.75.

Confirmation point: 309.63.

COH four-hour chart analysis

Function: Major trend (Minor degree, grey).

Mode: Motive.

Structure: Impulse.

Position: Wave (y)-orange of Wave ((2))-navy.

Details: Looking closer, wave (2)-orange looks like it is developing as a Flat labeled A,B,C-grey, and we still have a push lower with wave C-grey. Then wave (3)-orange will return to head higher. On the other hand, the rapid and strong penetration of the 309.63 high directly suggests that wave (3)-orange in the ALT alternative scenario is probably unfolding.

Invalidation point: 17.80.

Confirmation point: 19.65.

Conclusion

Our analysis, forecast of contextual trends, and short-term outlook for 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]

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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