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

Today's Elliott Wave analysis focuses on the Australian Stock Exchange (ASX), specifically INSURANCE AUSTRALIA GROUP LIMITED – IAG.

Our current outlook identifies ASX:IAG as still being in a corrective wave structure, with expectations for a slight move lower, potentially setting the stage for a rebound.

ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG
Elliott Wave Technical Analysis
1D Chart (Semilog Scale) Breakdown

• Trend Function: Major trend (Primary degree, navy)
• Mode: Motive
• Wave Structure: Impulse

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

Details:
Wave (4)-orange continues its downward progression following the end of Wave (3)-orange. The decline may persist toward the 38.2% Fibonacci retracement level. Wave A-grey has already completed, and Wave B-grey is advancing slightly higher.

• Invalidation Point: 7.40

ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG
Elliott Wave Technical Analysis | TradingLounge (4-Hour Chart)

4-Hour Chart Breakdown

• Trend Function: Major trend (Intermediate degree, orange)
• Mode: Motive
• Wave Structure: Impulse
• Current Position: Wave ((c))-navy of Wave B-grey

Details:
Focusing on Wave B-grey, this wave appears to be forming a Flat, labeled ((a))((b))((c))-navy. The ((B))-navy wave has ended, and ((c))-navy is moving upward, potentially targeting the range of 8,063 to 8,271. However, a move below the 7.400 mark would indicate the start of Wave C-grey, suggesting a downward move.

• Invalidation Point: 7.40

Conclusion:
This analysis of ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG offers a contextual overview of the current market structure, combined with a near-term forecast. Specific price levels serve as confirmation or invalidation points for the wave count, improving the reliability of the analysis. Our goal is to deliver a clear, objective, and professional insight into market direction.

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

More By This Author:

Elliott Wave Technical Analysis: Binance Crypto Price
Elliott Wave Insights And Strategies For SP500, Nasdaq, Top Tech Stocks
Elliott Wave Technical Forecast: News Corporation - Friday, March 28