ASX: FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED – FPH Elliott Elliott Wave Technical Analysis TradingLounge

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED – FPH. We see that ASX:FPH stock is about to complete a Triangle with wave 4, and prepare for the push up with wave 5. This analysis will guide you through the key points and important price levels to know the upcoming important market movements in the most intuitive way.

ASX: FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED – FPH 1D Chart (Semilog Scale) Analysis

Function: Major trend (Intermediate degree, orange)

Mode: Motive

Structure: Impulse

Position: Wave (4)-orange

Details: Wave count is changed to maximize the probability. Wave (4)-orange is probably developing as a Triangle, and needs a little more time to complete, then wave (5)-orange will unfold to push higher. A push above 35.45 would indicate the (5)-orange wave is unfolding.

Invalidation point: The end of wave A-grey

Confirmation point: 35.45

(Click on image to enlarge)

ASX: FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED – FPH 4-Hour Chart Analysis

Function: Major trend (Intermediate degree, orange)

Mode: Motive

Structure: Impulse

Position: Wave E-grey of Wave (4)-orange

Details: The 4H chart shows a more detailed representation of the Triangle of wave (4)-orange. I guess it is probably coming to an end, and preparing to end this fourth wave, so be ready for wave (5)-orange to return. A push above 35.45 would add weight and confidence to this view. Conversely, no push above, instead a break through the end of wave C-grey would eliminate the bullish view of wave (5)-orange. 

Invalidation point: The end of Wave C-grey

Confirmation point: 35.45

(Click on image to enlarge)

Conclusion:

Our analysis, forecast of contextual trends, and short-term outlook for ASX: FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED – FPH 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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