ASX: V300AEQ ETF UNITS – VAS Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with V300AEQ ETF UNITS – VAS. We see that VAS may have finished wave 2-grey, and wave 3-grey is unfolding to push higher.

ASX: V300AEQ ETF UNITS – VAS 1D Chart (Semilog Scale) Analysis

Function: Major trend (Minor degree, grey) 

Mode: Motive 

Structure: Impulse 

Position: Wave ((iii))-navy of Wave 3-grey 

Details: From the low at 94.13, wave 3-grey is unfolding to push higher, which itself is subdividing into wave ((iii))-navy, which should basically continue to push higher, targeting the nearest target at 105.50 and then higher. While price must remain above 98.39 to maintain this view. 

Invalidation point: 98.39

(Click on image to enlarge)

ASX: V300AEQ ETF UNITS – VAS 4-Hour Chart Analysis

Function: Major trend (Minute degree, navy) 

Mode: Motive 

Structure: Impulse 

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

Details: Since the low at 98.39, wave ((iii))-navy is unfolding to push higher, which itself is subdividing into wave (iii)-orange, which can basically push a little higher, then wave (iv)-orange will unfold to push lower, and finally wave (v)-orange will return to complete its role, which is to continue aiming for higher targets. While price must remain above 100.39 to maintain this view.

Invalidation point: 100.39

(Click on image to enlarge)

Conclusion:

Our analysis, forecast of contextual trends, and short-term outlook for ASX: V300AEQ ETF UNITS – VAS 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.

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