ASX: NEWS CORPORATION. – NWSElliott Wave Technical Analysis TradingLounge

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NEWS CORPORATION. – NWS. We see NWS.ASX continuing to push higher with wave (5)-orange.

ASX: NEWS CORPORATION. – NWS1D Chart (Semilog Scale) Analysis

Function: Major trend (Intermediate degree, Orange)

Mode: Motive

Structure: Impulse

Position: Wave (5)-orange

Details: Wave (4)-ornage has ended as an Expanded Flat, and since the low at 39.89 wave (5)-orange is unfolding to push higher, towards the next targets like 47.00 - 48.00 - 50.00.

Invalidation point: 39.89

ASX: NEWS CORPORATION. – NWS 4-Hour Chart Analysis

Function: Major trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave ((iv))-navy of Wave 3-grey

Details: Since the low at 39.89, wave (5)-orange is unfolding towards higher targets like 47.00 - 48.00 - 50.00. It is subdividing into wave 1-grey to wave 3-grey itself, again wave 3-grey is an Extension, and it is subdividing into the nearest wave ((iv))-navy, basically it needs a bit more time, and after it completes wave ((v))-navy will push higher and simultaneously complete the entire wave 3-grey, which suggests that a pullback lower with wave 4-grey is needed, and finally wave 5-grey will return to its trajectory.

Invalidation point: 42.63

Conclusion:

Our analysis, forecast of contextual trends, and short-term outlook for ASX: NEWS CORPORATION. – NWS aims 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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