Insurance Australia Group Limited analysis and Elliott Wave forecast [Video]

ASX: Insurance Australia Group Limited technical analysis – IAG

Today’s Elliott Wave update on the Australian Stock Exchange (ASX) focuses on INSURANCE AUSTRALIA GROUP LIMITED – IAG.

Our analysis shows ASX:IAG nearing the end of B-grey wave, indicating that another move downward is likely. Current conditions do not support a bullish outlook, making long positions highly risky.

Technical details – Daily chart (semilog scale)

• Function: Major Trend (Minor degree, grey)

• Mode: Motive

• Structure: Impulse

• Position: Wave c)) - navy of Wave B - grey

• Analysis:

  • Wave 3) - orange has completed its five-wave structure.

  • Wave 4) - orange is developing as a Zigzag (A, B, C - grey).

  • Wave A - grey has ended, and wave B - grey is progressing upward as an Expanded Flat.

  • Wave c)) - navy may reach around 8.772.

• Invalidation Point: End of wave b)) - navy at 7.100

Elliott Wave technical analysis – TradingLounge (four-hour chart)

This 4-hour chart review gives a closer look at ASX:IAG, where wave B - grey is forming an Expanded Flat from the 7.420 level.

• Function: Major Trend (Minor degree, grey).

• Mode: Motive.

• Structure: Impulse.

• Position: Wave c)) - navy of Wave B - grey.

• Analysis:

  • The pattern from wave a)) - navy to b)) - navy is developing with increased complexity.

  • Wave c)) - navy now appears stronger than prior sub-waves, suggesting momentum.

  • A likely target area for wave c)) - navy is around 8.772, after which wave B - grey may complete and wave C - grey could begin its downward move.

• Invalidation point: 7.100.

Conclusion

This analysis offers a short-term outlook and broader trend view for ASX:INSURANCE AUSTRALIA GROUP LIMITED – IAG, supporting informed decision-making. By identifying key price zones and validation points, we aim to strengthen your understanding of this market structure using the Elliott Wave method.

Insurance Australia Group Limited analysis and Elliott Wave forecast [Video]