Market Data 
ASX: ANZ GROUP HOLDINGS LIMITED – ANZ Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart).
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with ANZ GROUP HOLDINGS LIMITED – ANZ. We identified wave 3 grey which seems to be unfolding to push higher, it is subdividing into wave ((ii))-navy, which is an opportunity to look for a Long Trade Setup.
ASX: ANZ Group Holdings Limited – ANZ Elliott Wave technical analysis
ASX: ANZ GROUP HOLDINGS LIMITED – ANZ 1D Chart (Semilog Scale) Analysis.
Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave ((ii))-navy of Wave 3-grey.
Details: The short-term outlook indicates that wave 2-grey has ended, and since the low at 27.56, wave 3-grey is unfolding to push higher. The current price action is subdividing into wave ((ii))-navy, pushing slightly lower, presenting an opportunity to seek a long trade setup targeting wave ((iii))-grey.
Invalidation point: 27.56.
ASX: ANZ GROUP HOLDINGS LIMITED – ANZ Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)
ASX: ANZ Group Holdings Limited – ANZ Elliott Wave technical analysis
ASX: ANZ GROUP HOLDINGS LIMITED – ANZ 4-Hour Chart Analysis.
Function: Major trend (Minute degree, navy).
Mode: Motive.
Structure: Impulse.
Position: Wave (c)-orange of Wave ((ii))-navy.
Details: The shorter-term outlook indicates that wave ((i))-navy has just completed and wave ((ii))-navy is unfolding, developing as an (a)(b)(c)-orange pattern. Wave (c)-orange appears to be unfolding to push slightly lower, with a high likelihood that the price will continue to reach the lower edge of the Channel. A push above the upper edge of the Channel will refresh the view that wave ((iii))-navy is resuming.
Confirmation point: 29.05.
Invalidation point: 27.56.
Conclusion
Our analysis, forecast of contextual trends, and short-term outlook for ASX: ANZ GROUP HOLDINGS LIMITED – ANZ 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).
