ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG

Elliott Wave Technical Analysis – TradingLounge
Greetings,
Today’s Elliott Wave update on the Australian Stock Exchange (ASX) focuses on INSURANCE AUSTRALIA GROUP LIMITED – IAG.

Our analysis shows ASX:IAG nearing the end of B-grey wave, indicating that another move downward is likely. Current conditions do not support a bullish outlook, making long positions highly risky.

Technical Details – Daily Chart (Semilog Scale)
Function: Major Trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave c)) - navy of Wave B - grey

Analysis:

Wave 3) - orange has completed its five-wave structure.

Wave 4) - orange is developing as a Zigzag (A, B, C - grey).

Wave A - grey has ended, and wave B - grey is progressing upward as an Expanded Flat.

Wave c)) - navy may reach around 8.772.

Invalidation Point: End of wave b)) - navy at 7.100

ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG
Elliott Wave Technical Analysis – TradingLounge (4-Hour Chart)
This 4-hour chart review gives a closer look at ASX:IAG, where wave B - grey is forming an Expanded Flat from the 7.420 level.

Function: Major Trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave c)) - navy of Wave B - grey

Analysis:

The pattern from wave a)) - navy to b)) - navy is developing with increased complexity.

Wave c)) - navy now appears stronger than prior sub-waves, suggesting momentum.

A likely target area for wave c)) - navy is around 8.772, after which wave B - grey may complete and wave C - grey could begin its downward move.

Invalidation Point: 7.100

Conclusion
This analysis offers a short-term outlook and broader trend view for ASX:INSURANCE AUSTRALIA GROUP LIMITED – IAG, supporting informed decision-making. By identifying key price zones and validation points, we aim to strengthen your understanding of this market structure using the Elliott Wave method.

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

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