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News Corporation Elliott Wave technical forecast [Video]

Peter Mathers TradingLounge

ASX: NEWS CORPORATION. - NWS Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NEWS CORPORATION. - NWS . We see NWS.ASX possibly rising with wave ((iii))-navy.

ASX: NWS Elliott Wave technical analysis

Function: Major trend (Minuete degree, navy).

Mode: Motive.

Structure: Impulse.

Position: Wave ((iii))-navy of Wave 5-grey.

Details: Wave 5-grey looks to be extending, it is subdividing into wave ((iii))-navy and continuing to push higher, while price must remain above the 40.00 low to maintain this view.

Invalidation point: 40.00.

NWS one-day chart

ASX: NWS Elliott Wave technical analysis

Function: Major trend (Minute degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave (iii)-orange of Wave ((iii))-navy

Details: Wave ((iii))-navy is unfolding to push higher since 40.00, it is subdividing into wave (i),(ii)-orange. And wave (ii)-orange probably ended at 41.40, so wave (iii)-orange is unfolding to push higher, targeting the high of 47.19.

Invalidation point: 41.40.

NWS four-hour chart analysis

Conclusion

Our analysis, forecast of contextual trends, and short-term outlook for ASX: NEWS CORPORATION. - NWS 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.

News Corporation 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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