ASX: MACQUARIE GROUP LIMITED – MQG Elliott Wave Technical Analysis

Today's Elliott Wave analysis provides an update on MACQUARIE GROUP LIMITED (MQG) on the Australian Stock Exchange (ASX).

Our analysis shows that ASX:MQG stock is approaching the final stages of Wave Four, forming a flat pattern. This presents a potential opportunity for an upward movement in Wave Five. The analysis highlights key confirmation levels that traders can monitor to assess whether the current trend remains intact or is shifting.

ASX: MACQUARIE GROUP LIMITED – MQG 1D Chart (Semilog Scale) Analysis

• Function: Major Trend (Minute Degree, Navy)
• Mode: Motive
• Structure: Impulse
• Position: Wave v-grey of Wave (c)-orange of Wave ((iv))-navy

Details:
Wave ((iii))-navy recently concluded as a five-wave structure. Currently, Wave ((iv))-navy is unfolding in a Flat (a)-(b)-(c) pattern (orange). The final leg, Wave (c)-orange, is still developing, aiming for a target near 211.92 or slightly lower.

Alternatively, a break above 232.59 will be the first sign that Wave ((v))-navy is beginning an upward move.

• Invalidation Point: The end of Wave (b)-orange
• Confirmation Point: 232.590

ASX: MACQUARIE GROUP LIMITED – MQG 4H Chart Analysis

• Function: Major Trend (Minute Degree, Navy)
• Mode: Motive
• Structure: Impulse
• Position: Wave v-grey of Wave (c)-orange of Wave ((iv))-navy

Details:
No significant changes—Wave (c)-orange continues its five-wave formation, labeled from i-grey to v-grey, as it moves lower.

• Invalidation Point: The end of Wave (b)-orange
• Confirmation Point: 232.590

Conclusion:

Our Elliott Wave analysis and forecast for ASX: MACQUARIE GROUP LIMITED (MQG) provide valuable insights into the current market trend and potential trading opportunities. By identifying key price levels for validation and invalidation, traders can enhance their confidence in market movements. Our objective approach ensures a professional, data-driven perspective on ASX stocks.

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

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