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ASX: FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED (FPH) Elliott Wave Technical Analysis – TradingLounge (1D Chart)

Overview

Greetings! Our Elliott Wave analysis today focuses on FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED (ASX: FPH).

Currently, ASX:FPH does not appear ready to turn bullish, and further dips are expected. This presents a good opportunity to observe the stock and monitor its corrective waves, which are key for identifying future motive waves.

ASX: FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED (FPH) Elliott Wave Technical Analysis – 1D Chart (Semilog Scale)

• Function: Major Trend (Minor Degree – Grey)
• Mode: Motive
• Structure: Impulse
• Position: Wave ((c)) – Navy

Analysis Details:

A large corrective wave is unfolding as ((a))((b))((c)) – navy. The ((b)) – navy wave likely ended recently at a high of 35.74. Currently, the ((c)) – navy wave appears to be in progress, or there may be another wave count scenario unfolding.

Regardless of the exact pattern, the price is expected to push lower, targeting 27.93 as the next significant level.

• Invalidation Point: 35.74

ASX: FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED (FPH) Elliott Wave Technical Analysis – TradingLounge (4-Hour Chart)

ASX: FPH Elliott Wave Technical Analysis – 4-Hour Chart

• Function: Major Trend (Minute Degree – Navy)
• Mode: Motive
• Structure: Impulse
• Position: Wave (B) – Orange of Wave ((c)) – Navy

Analysis Details:

Wave ((c)) – navy is unfolding towards a lower level. Its Wave (A) – orange has completed five waves, indicating an impulse phase.

Currently, Wave (B) – orange is forming a short-term upward correction, after which Wave (C) – orange is expected to continue pushing the price lower.

• Invalidation Point: 35.74

Conclusion

Our Elliott Wave analysis and forecast for FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED (ASX: FPH) provide insights into current market trends and potential opportunities.

By identifying key validation and invalidation price points, we enhance the confidence level in our wave count, helping traders make informed decisions. Our goal is to deliver an objective and professional perspective on market trends, helping traders capitalize on emerging movements.

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

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