ASX: RAMSAY HEALTH CARE LIMITED - RHC Elliott Wave Technical Analysis TradingLounge

Greetings! Today's Elliott Wave analysis focuses on the Australian Stock Exchange (ASX) RAMSAY HEALTH CARE LIMITED - RHC. The current wave count indicates that RHC.ASX is still trending lower to complete its corrective wave. Following this, we anticipate a return to the impulse wave, aligning with the primary bullish trend.

ASX: RAMSAY HEALTH CARE LIMITED - RHC 1D Chart (Semilog Scale) Analysis

Function: Major trend (Minute degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave (c)-orange of Wave ((v))-navy

Details:

The Wave C-grey is unfolding as an Ending Diagonal, with its Wave ((v))-navy continuing to move lower in a Zigzag pattern. Wave (a) and (b)-orange are already complete, while Wave (c)-orange is slightly extending to the downside.

• Key Invalidation Point: 43.47

ASX: RAMSAY HEALTH CARE LIMITED - RHC 4-Hour Chart Analysis

Function: Major trend (Minor degree, grey)

Mode: Motive

Structure: Diagonal

Position: Wave (c)-orange of Wave ((v))-navy of Wave C-grey

Details:

Wave (c)-orange, part of Wave ((v))-navy within Wave C-grey, is continuing its downward push. The price must remain below 43.47 to sustain this view. However, a price move above 39.72 would signal that the Wave C-grey may have concluded, suggesting a potential shift back to the primary impulse trend.

• Key Invalidation Point: 43.47

Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

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See Previous: SCENTRE GROUP – SCG Elliott Wave Technical Analysis  

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Conclusion

Our Elliott Wave analysis highlights key price movements and trend structures for ASX: RAMSAY HEALTH CARE LIMITED - RHC. By identifying validation and invalidation points, we provide actionable insights to traders. A break above or below these critical levels offers clear indications for the next phase of the market trend. Combining technical precision with real-time updates, this analysis equips you with a comprehensive perspective to navigate the markets effectively.