Cochlear Limited – COH Elliott Wave technical forecast [Video]

Finance

Cochlear Limited – COH Elliott Wave technical forecast [Video]

Todays Elliott Wave analysis updates the COCHLEAR LIMITED (COH) position on the Australian Stock Exchange (ASX). We observe the recent completion of a corrective ABC wave, opening the door for a bullish impulse wave in ASX:COH. This analysis outlines potential price targets, probable market direction, and key invalidation points for maintaining the bullish stance.

Cochlear Limited – COH one-day chart (semilog scale) analysis

• Function: Major Trend (Intermediate degree, Orange).
• Mode: Motive.
• Structure: Impulse.
• Position: Wave 5)) – navy.

Technical insight:

Wave 4)) – navy seems to have finished forming the corrective pattern labeled A, B, C) – orange. The chart now suggests the start of an upward move into Wave 5)) – navy. This setup supports the bullish view and projects a likely return to the high at wave 3)) – navy, around $350.00.

Cochlear Limited – COH Elliott Wave technical analysis

Chart details:

• Function: Major Trend (Intermediate degree, Orange).
• Mode: Motive.
• Structure: Impulse.
• Position: Wave B – grey of Wave 2) – orange.

Technical insight:

Following the 246.140 low, wave 1) – orange formed a Leading Diagonal. This indicates that wave 2) – orange may retrace significantly. The pattern shows that wave A of 2) is complete, and waves B and C – grey are next. Expect a final dip with wave C – grey before a potential strong rally in wave 3) – orange.

Conclusion

Our COCHLEAR LIMITED (COH) analysis combines short-term technical setups with broader market trends to help traders and investors make informed decisions. We highlight key validation/invalidation levels to reinforce the confidence in our Elliott Wave structure. The goal is to offer a precise and professional market forecast.