COH Elliott Wave technical forecast [Video]

Peter Mathers TradingLounge

CCOH Elliott Wave technical analysis

Our latest Elliott Wave analysis focuses on the Australian Stock Exchange (ASX) and COCHLEAR LIMITED - COH.
A corrective ABC wave has recently concluded, presenting new bullish prospects for ASX:COH.
This report highlights potential target prices, expected future trends, and crucial invalidation levels essential for sustaining the upward momentum, delivered in a clear, technical approach.

COH Elliott Wave technical analysis

Function: Major Trend (Intermediate Degree, Orange).
Mode: Motive.
Structure: Impulse.
Position: Wave 5)) - Navy.

Analysis details:

Wave 4)) - Navy likely completed an A-B-C corrective formation labeled Orange.
With this completion, conditions appear favorable for the commencement of Wave 5)) - Navy's upward movement.
This scenario strengthens the bullish outlook, with a potential price return to the previous high near $350.00.

Invalidation point: 246.14

COH Elliott Wave technical analysis

Function: Major Trend (Minor Degree, Grey).
Mode: Motive.
Structure: Impulse.
Position: Wave 3 - Grey of Wave 5)) - Navy.

Analysis details:

From the level of 246.14, a five-wave sequence labeled 1 - Grey to 5 - Grey has been unfolding.
Currently, Wave 3 - Grey is progressing upwards and is anticipated to target between 281.50 and 303.06.
Once Wave 3 - Grey concludes, a pullback as Wave 4 - Grey should occur but must remain above 265.00 to maintain the bullish count, ensuring Wave 5 - Grey can follow.

Invalidation point: 265.00 (Wave 4 must not overlap with Wave 1)

Conclusion:

Our Elliott Wave analysis and forecast for COCHLEAR LIMITED - COH aim to deliver valuable insights into market direction.
Specific validation and invalidation levels are provided to reinforce confidence in the wave count.
Combining detailed trend analysis with professional methodology, we strive to offer the most objective view for effective market positioning.

Technical analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

CCOH 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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