Northern Star Resources Ltd – NST stock analysis and Elliott Wave technical forecast [Video]

ASX: NST Elliott Wave technical analysis – One-day chart

Today’s Elliott Wave update focuses on NORTHERN STAR RESOURCES LTD – NST listed on the Australian Stock Exchange (ASX).
Our technical analysis suggests that ASX:NST is likely entering a short-term bearish trend, potentially heading towards 16.86. Based on our assessment, a bullish reversal is not expected at this point.

• Trend function: Major Trend (Minor Degree - Grey).

• Market mode: Motive.

• Wave structure: Impulse.

• Wave position: Wave C) - Orange of Wave 4)) - Navy.

Detailed outlook

Currently, Wave 4)) - Navy is unfolding downward, appearing to develop as an ABC - Orange Zigzag.
Wave A)B) - Orange seems completed, and since the high at 22.78, Wave C) - Orange has likely started to move lower.
The projected target is around 16.86, showing no signals of a bullish setup.

• Invalidation level: 23.78.

NST Elliott Wave technical analysis – Four-hour chart

• Trend function: Major Trend (Minor Degree - Grey).

• Market mode: Motive.

• Wave structure: Impulse.

• Wave position: Wave C) - Orange of Wave 4)) - Navy.

Details:

In the shorter 4-hour timeframe, no bullish evidence is observed.
After the high at 22.78, Wave C) - Orange appears to continue declining toward 16.86.

• Invalidation level: 22.78

Conclusion

This analysis delivers a contextual understanding of short-term trends for ASX: NST.
We identify key levels that act as validation or invalidation signals, aiding the accuracy of our wave counts.
Our goal is to offer a clear, professional insight into current market trends, helping traders make informed decisions.

NST stock analysis and Elliott Wave technical forecast [Video]