ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG Elliott Wave Technical Analysis – TradingLounge

Greetings,

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

We currently observe that ASX:IAG remains within a corrective wave structure, with expectations of a further minor decline before a possible upward reversal.

ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG

Elliott Wave Technical Analysis

1D Chart (Semilog Scale) Analysis

Function: Major trend (Primary degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave B - grey of Wave (4) - orange

Details:

Wave (4) - orange is unfolding downward after the conclusion of wave (3) - orange. The downward movement is expected to continue, potentially targeting the 38.2% Fibonacci retracement level. Currently, wave A - grey appears completed, and wave B - grey is experiencing a minor upward move.

Invalidation Point: 7.40

ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG

Elliott Wave Technical Analysis – TradingLounge 4-Hour Chart

Function: Major trend (Intermediate degree, orange)

Mode: Motive

Structure: Impulse

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

Details:

On the shorter 4-hour time frame, wave B - grey is unfolding as a Flat correction, identified as ((a))((b))((c)) - navy. Recently, wave ((B)) - navy completed, and wave ((c)) - navy is now pushing higher, likely targeting between 8,063 and 8,271.

Should the price drop below 7.400, it would signal that wave C - grey is underway, indicating a bearish turn.

Invalidation Point: 7.400

Conclusion:

This analysis provides insights into ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG, highlighting short-term trends and strategic entry points. Our Elliott Wave framework identifies critical price zones that validate or invalidate the current wave count. This approach supports a more confident and structured trading strategy.

Technical Analyst: Hua (Shane) Cuong, CEWA-M

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