Welcome! Today, we’re updating our Elliott Wave analysis on the Australian Stock Exchange (ASX), focusing on V300AEQ ETF UNITS – VAS. Our analysis indicates that VAS could continue its upward trajectory, potentially reaching a target of 100.51, presenting an enticing opportunity.
ASX: V300AEQ ETF Units – VAS Elliott Wave Technical Analysis
- Trend: Major trend (Minute degree, green).
- Pattern: Impulse.
- Current Position: Wave iii-blue of Wave (iii)-purple of Wave ((iii))-green.
Here are the key details:
- Short-term Outlook: We anticipate Wave ((v))-green to drive prices higher, comprising waves (i) and (ii)-purple, followed by waves (i) and (ii)-blue. The immediate target is around 100.51, with a crucial support level of 94.98.
Invalidation Point: 92.52.
ASX: V300AEQ ETF Units – VAS Elliott Wave Technical Analysis (One-Day Chart)
- Trend: Major trend (Minuette degree, purple).
- Pattern: Impulse wave.
- Current Position: Wave iii-blue of Wave (iii)-purple.
Key Points:
- Short-term Outlook: We’ve observed the completion of wave ii-blue, with wave iii-blue now unfolding towards the upside, targeting 100.51. Sustaining a price above 96.20 would reinforce this bullish outlook.
Invalidation Point: 94.98.
Conclusion:
Our analysis aims to provide valuable insights into current market trends and actionable strategies for ASX: V300AEQ ETF UNITS – VAS. We offer specific price levels as validation or invalidation signals, bolstering confidence in our analysis. By combining these factors, we strive to offer readers a professional and objective perspective on market trends.