ASX: GOODMAN GROUP – GMG Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) 

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with ARISTOCRAT LEISURE LIMITED - ALL. We see GMG about to push higher in the short term with a grey v-wave.

ASX: GOODMAN GROUP – GMG 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 ((iii))-navy

Details: Wave iv-grey has ended, and wave v-grey is unfolding to push higher, aiming at targets around 38.00 - 40.00, we will analyze in more detail on the 4H chart.

Invalidation point: 31.73

(Click on image to enlarge)

ASX: GOODMAN GROUP – GMG 4-Hour Chart Analysis

Function: Major trend (Subminuette degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave ((4))-navy of Wave ((5))-navy

Details: Wave ((3))-navy is probably over and wave ((4))-navy is unfolding to push lower as a Triangle. And after the Triangle is over, we can return to wave ((5))-navy, which will take us up to 38.00 - 40.00. While price must remain above 35.57 to maintain the view that the Triangle is unfolding. 

Invalidation point: 33.76

(Click on image to enlarge)

Conclusion:

Our analysis, forecast of contextual trends, and short-term outlook for ASX: GOODMAN GROUP – GMG 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.

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