ASX: Sonic Healthcare Limited (SHL) – Elliott Wave Technical Analysis
Elliott Wave Analysis for ASX: Sonic Healthcare Limited (SHL)
Welcome to our Elliott Wave analysis update for ASX: Sonic Healthcare Limited (SHL). Based on our current evaluation, ASX: SHL is poised to climb significantly higher as it progresses through wave 3-grey.
ASX: Sonic Healthcare Limited (SHL) – 1D Chart Analysis (Semilog Scale)
Sonic Healthcare Limited - SHL Elliott Wave Technical Analysis
Function: Major trend (Minuette degree, orange)
Mode: Motive
Structure: Impulse
Position: Wave 3-grey
Details:
- Wave 3-grey is unfolding to target 30.00 initially.
- Upon surpassing 30.00, the next key level to monitor is 34.67.
Invalidation point: The analysis is invalid if prices fall below 25.61.
ASX: Sonic Healthcare Limited (SHL) – 4-Hour Chart Analysis
Function: Major trend (Minor degree, grey)
Mode: Motive
Structure: Impulse
Position: Wave 3-grey
Details:
- Wave 2-grey completed as a Double Zigzag near the 25.61 low.
- The ongoing wave 3-grey signals a robust upward momentum for ASX: SHL, confirming bullish sentiment.
Invalidation point: Prices falling below 25.61 will negate this outlook.
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion
Our Elliott Wave analysis for ASX: Sonic Healthcare Limited (SHL) highlights significant upward potential driven by wave 3-grey. Key price levels at 30.00 and 34.67 present actionable targets, with 25.61 as the invalidation threshold. This analysis empowers traders to align with prevailing market trends and make informed decisions by leveraging key Elliott Wave principles.