COCHLEAR LIMITED - COH Elliott Wave Technical Analysis TradingLounge

Overview:
Our updated Elliott Wave analysis for the Australian Stock Exchange (ASX) focuses on COCHLEAR LIMITED – COH. According to our forecast, ASX:COH may have finished a second wave correction and might be starting a third wave rally. This stage often brings more price gains. In this report, we outline the next price target, the invalidation level, and possible medium-term trend direction.

COCHLEAR LIMITED - COH 1D Chart (Semilog Scale) Analysis

• Trend: Intermediate (Orange)
• Wave Mode: Motive
• Wave Structure: Impulse
• Wave Position: Wave 5)) - navy

Analysis Details:
Wave 4)) - navy likely just ended a correction pattern marked A,B,C) - orange. Now, it appears ready for Wave 5)) - navy to rise. This scenario supports a bullish market view, with the next potential target being the prior high from Wave 3)) - navy, near $350.00.

• Invalidation Point: 246.52 

COCHLEAR LIMITED - COH Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)

4-Hour Chart Analysis:

• Trend: Intermediate (orange)
• Wave Mode: Motive
• Wave Structure: Impulse
• Wave Position: Wave B - grey of Wave 2) - orange

Short-Term View:
Recently, after forming a Diagonal pattern in Wave 1) - orange, COH saw a sharp drop in Wave 2) - orange, shaped as a Zigzag. This correction appears to have finished at 246.52 on a clear three-wave count. If this holds, Wave 3) - orange may now be beginning, targeting the short-term price level of 300.50 or higher.

• Invalidation Point: 246.52 

Conclusion:

Our forecast aims to clarify the current Elliott Wave position of COCHLEAR LIMITED - COH. With well-defined price levels acting as confirmation or invalidation for the wave structure, our analysis helps traders build confidence in their strategy. The goal is to provide a neutral, professional outlook that supports smart trading decisions.

Technical Analyst:
Hua (Shane) Cuong, CEWA-M (Certified Elliott Wave Analyst - Master Level)

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