Unlocking ASX Trading Success: National Australia Bank Limited - Friday, Aug. 16
ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NATIONAL AUSTRALIA BANK LIMITED - NAB. We see NAB.ASX looking to push higher with wave (iii)-orange.
ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Wave Technical Analysis
ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB 1D Chart (Semilog Scale) Analysis
Function: Major trend (Minute degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave (iii)-orange of Wave ((v))-navy
Details: Wave (ii)-orange seems to have just finished as an Expanded Flat, and wave (iii)-orange seems to be unfolding to push higher. While price must remain above 34.67 to maintain this view.
Invalidation point: 34.67
ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)
ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Wave Technical Analysis
ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB 4-Hour Chart Analysis
Function: Major trend (Minuette degree, orange)
Mode: Motive
Structure: Impulse
Position: Wave ((2))-navy of Wave (iii)-orange
Details: Wave (ii)-orange just ended at the 34.67 low and wave (iii)-orange is unfolding to push higher. It is subdividing into wave ((1))-navy itself, and it has ended, wave ((2))-navy looks to be unfolding to push a bit lower, then wave ((3))-navy will return to push higher.
Invalidation point: 34.67
Conclusion:
Our analysis, forecast of contextual trends, and short-term outlook for ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB 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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