NAB Stock Analysis & Elliott Wave Technical Forecast - Friday, June 28

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 that wave (iii)-orange of wave ((v))-navy is opening up to push even higher. The most recent Long Trade position at Trade Recommendations generated quite good profits.

 

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 v-grey of Wave (iii)-orange of Wave ((v))-navy
Details: The short-term outlook suggests wave (iii)-orange is unfolding to push higher. Wave ((3))-navy of iii-grey continues to open, if it penetrates the 36.50 level, it will continue towards the 37.60 level. The Long position has had quite good profits.

Invalidation point: 35.46

(Click on image to enlarge)

Asx24.thumb.png.7b4e122d4d35f3a20631a6eb731a663c.png

 

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 v-grey of Wave (iii)-orange
Details: The shorter-term outlook shows that the v-grey wave may have recently ended as an Expanded Flat, and the v-grey wave is being opened up to push higher, possibly targeting 37.60.
Invalidation point: 35.46

(Click on image to enlarge)

Asx24(1).thumb.png.0d68e7f6b0080a1d60ebdd05b8b3bd54.png

 

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.


More By This Author:

Elliott Wave Technical Analysis: IBEX 35 (Spain) Index
Elliott Wave Technical Analysis: NextEra Energy Inc.
Unlocking ASX Trading Success: ASX Limited - Thursday, June 27

Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817

How did you like this article? Let us know so we can better customize your reading experience.

Comments