Unlocking ASX Trading Success: ResMed Inc.
ASX: RESMED INC - RMD Elliott Elliott Wave Technical Analysis TradingLounge
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with RESMED INC - RMD. We see RMD preparing to move up with the third wave.
ASX: RESMED INC - RMD 1D Chart (Semilog Scale) Analysis
Function: Major trend (Minor degree, grey)
Mode: Motive
Structure: Impulse
Position: Wave ((iii))-navy of Wave 3-grey
Details: Wave ((ii))-navy may have ended, and wave ((iii))-navy is unfolding to push higher. It is possible that wave ((iii))-navy is unfolding to push higher, towards the next target at 40.00 – 50.00.
Invalidation point: 34.19
ASX: RESMED INC - RMD 4-Hour Chart Analysis
Function: Major trend (Minuette degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave (iii)-orange of Wave ((iii))-navy
Details: Wave ((iii))-navy is probably unfolding since 34.19, and it is probably subdividing into wave (i),(ii)-orange, basically wave (ii)-orange can push down a little bit further, aiming at the target around 36.05 - 35.24, and then wave (iii)-orange can return when price pushes higher than wave B of wave (ii)-orange. On the contrary, if price continues to break through 35.24, it will immediately trigger the ALT replacement scenario, indicating that the whole wave ((ii))-navy is not really completed and needs to push down further.
Invalidation point: 34.19
Conclusion:
Our analysis, forecast of contextual trends, and short-term outlook for ASX: RESMED INC - RMD 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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