ASX: LIGHT & WONDER INC. – LNW Elliott Elliott Wave Technical Analysis TradingLounge

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) LIGHT & WONDER INC. – LNW. We see LNW pushing lower to complete wave 2-grey, then wave 3-grey could return to push much higher.

ASX: LIGHT & WONDER INC. – LNW 1D Chart (Semilog Scale) Analysis

Function: Major trend (Intermediate degree, orange)

Mode: Motive

Structure: Impulse

Position: Wave 2-grey of Wave (3)-orange

Details: Wave 1-grey just ended as a Diagonal, and wave 2-grey is unfolding to push lower, it could continue to push lower. Diagonals are often followed by Sharp movements, and deep corrections.

Invalidation point: 114.35

ASX: LIGHT & WONDER INC. – LNW 4-Hour Chart Analysis

Function: Major trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave ((c))-navy of Wave 2-grey

Details: Since wave 1-grey ended, I see wave 2-grey unfolding as a Zigzag labeled ((a))((b))((c))-navy, it looks like wave ((b))-navy ended at the high of 145.67 and wave ((c))-navy is unfolding to push further down, targeting the next low around 124.51.

Invalidation point: 145.67

Conclusion:

Our analysis, forecast of contextual trends, and short-term outlook for ASX: LIGHT & WONDER INC. – LNW aim 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).

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