Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with ARISTOCRAT LEISURE LIMITED - ALL. We see wave (v)-orange of wave ((iii))-navy still unfolding to push higher.

ASX: ARISTOCRAT LEISURE LIMITED - ALL 1D Chart (Semilog Scale) Tradinglounge Analysis

Function: Major trend (Minor degree, grey) 

Mode: Motive 

Structure: Impulse 

Position: Wave (v)-orange of Wave ((v))-navy  

Details: Wave (iv)-orange probably ended closest to the 56.04 low and wave (v)-orange is unfolding to push higher, targeting the 61.49 – 65.00 level while price must remain above the 56.04 low to maintain this view.

Invalidation point: 55.06

(Click on image to enlarge)

ASX: ARISTOCRAT LEISURE LIMITED - ALL 4-Hour Chart Analysis

Function: Major trend (Minuette degree, orange) 

Mode: Motive 

Structure: Impulse 

Position: Wave (v)-orange of Wave ((v))-navy 

Details: I look closer and see Wave (iv)-orange of wave ((v))-navy appears to have ended at the low of 56.04 and wave (v)-orange is unfolding to push higher, targeting the high of 61.49 – 65.00. 

Invalidation point: 56.04

(Click on image to enlarge)

Conclusion:

Our analysis, forecast of contextual trends, and short-term outlook for ASX: ARISTOCRAT LEISURE LIMITED - ALL 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 Analysis & Trading Strategies For SP500, Nasdaq, Tech Stocks, And Bitcoin
Wheat Commodity - Elliott Wave Technical Analysis
Spotify Technology S.A. Stocks Elliott Wave Technical Analysis - Friday, October 4