Unlocking ASX Trading Success: National Australia Bank Limited - NAB Stock Analysis & Elliott Wave Technical Forecast

ASX: National Australia Bank Ltd - NAB  Elliott Elliott Wave Technical Analysis  (1D Chart)

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with National Australia Bank Ltd - NAB . We see that wave (iii)-orange of wave ((v))-navy is opening up to push even higher. The most recent Long Trade position at Trade Recommendations generated quite good profits.

 

ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB  Elliott Wave Technical Analysis  

ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB  1D Chart (Semilog Scale) Analysis

Function: Major trend (Minute degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave iii-grey of Wave (iii)-orange of Wave ((v))-navy
Details: The short-term outlook suggests wave (iii)-orange is unfolding to push higher. Wave ((3))-navy of iii-grey continues to open, if it penetrates the 36.50 level, it will continue towards the 37.20 level. The Long position has had quite good profits.

Invalidation point: 34.83

Asx24(1).thumb.png.899bba0156bb85b1c6cea0f9cc004eb0.png

 

ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB  Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)

ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB  Elliott Wave Technical Analysis

ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB  4-Hour Chart Analysis

Function: Major trend (Minuette degree, orange)
Mode: Motive
Structure: Impulse
Position: Wave ((5))-navy of Wave iii-grey of Wave (iii)-orange
Details: The short-term outlook shows that wave iii-grey is opening, it is subdividing into wave ((3))-navy, and has just ended, wave ((4))-navy opened and seems to have ended. momentum, now is the time for wave ((5))-navy to continue pushing higher, aiming for a target of 36.50 or beyond, while the price must always maintain above 35.82.
Invalidation point: 35.80

Asx24.thumb.png.3a114c599729543bf4452865e17d1c4f.png

 

Conclusion:  

Our analysis, forecast of contextual trends, and short-term outlook for ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB  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.

 

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

Source : Tradinglounge.com get trial here!


More By This Author:

Wheat Commodity Elliott Wave Technical Analysis - Thursday, June 20
DAX Index Elliott Wave Technical Analysis 1
NZDUSD Forex Elliott Wave Technical Analysis

Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817

How did you like this article? Let us know so we can better customize your reading experience.

Comments