NAB Elliott Wave analysis [Video]

NAB Elliott Wave technical analysis

Today's Elliott Wave update focuses on the Australian Stock Exchange (ASX) and the stock NATIONAL AUSTRALIA BANK LIMITED – NAB.

Current analysis suggests ASX:NAB shares may be entering a bullish phase after completing a recent corrective wave.

ASX: NAB Elliott Wave Technical Analysis – 1D Chart (Semilog Scale)

• Function: Major Trend (Intermediate Degree – Orange).

• Mode: Motive.

• Structure: Impulse.

• Position: Wave (3) – Orange.

Details:

Wave (2) – Orange may have completed at the 32.360 level, forming an Expanded Flat labeled A, B, C – Grey. Wave C – Grey shows a five-wave structure. As a result, Wave (3) – Orange may now be developing to the upside.

Invalidation point: 32.360.

NAB Elliott Wave technical analysis

• Function: Major Trend (Minor Degree – Grey).

• Mode: Motive.

• Structure: Impulse.

• Position: Wave ((iii)) – Navy of Wave (3) – Orange.

Details:

Following the 32.360 low, Wave (3) – Orange appears to be unfolding, subdivided into waves ((i)) – Navy and ((ii)) – Navy, likely completed. Wave ((iii)) – Navy is now progressing upwards, with a target near 36.83.

Invalidation point: 132.76.

Conclusion

This analysis offers a contextual forecast and near-term outlook for ASX: NATIONAL AUSTRALIA BANK LIMITED – NAB, helping traders identify current market dynamics and strategic opportunities. Key price points serve as validation or invalidation markers to strengthen the wave count's reliability. Combined with professional interpretation, this perspective is designed to support informed trading decisions.

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

NAB Elliott Wave technical analysis [Video]