ASX: FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED – FPH Elliott Elliott Wave Technical Analysis TradingLounge

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED – FPH. We see FPH could be about to move up with wave ((iii))-navy, but it needs a little more time for wave ((ii))-navy to complete.

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

Function: Major trend (Intermediate degree, orange)

Mode: Motive

Structure: Impulse

Position: Wave ((ii))-navy of Wave 5-grey of Wave (5)-orange

Details: Wave 5-grey is unfolding to push higher, it is subdividing into wave ((ii))-navy, basically it will push lower a bit, then wave ((iii))-navy will come back to push higher. 

Invalidation point: 31.27

ASX: FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED – FPH 4-Hour Chart Analysis

Function: Major trend (Minute degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave (b)-orange of Wave ((ii))-orange of Wave 5-grey

Details: Looking closer, wave ((i))-navy has ended, now wave ((ii))-navy unfolds to push lower to complete its role as (a),(b),(c). After wave ((ii))-navy ends, wave ((iii))-navy will return to push higher. And 33.00 could become a tested support level, then it could go Long higher.

Invalidation point: 31.27

Conclusion:

Our analysis, forecast of contextual trends, and short-term outlook for ASX: FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED – FPH aims 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).

More By This Author:

Elliott Wave Analysis: Major Indices
Elliott Wave Technical Analysis: JSW Steel
Elliott Wave Technical Analysis: Swiss Market Index - Wednesday, Oct. 16