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ASX: NST Elliott Wave technical analysis
Today’s Elliott Wave update for the Australian Stock Exchange (ASX) focuses on NORTHERN STAR RESOURCES LTD – NST.
According to our analysis, ASX: NST appears to be entering a short-term bearish trend, potentially dropping to the 16.86 level. There are currently no signs of a bullish market based on this forecast.
Elliott Wave technical analysis – One-day Chart (Semilog Scale)
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Function: Major trend (Minor degree, grey).
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Mode: Motive.
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Structure: Impulse.
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Position: Wave C) – orange of Wave 4)) – navy.
Details:
Wave 4)) – navy continues to decline, likely developing as an ABC-orange zigzag pattern. Wave A)B) – orange has completed, and since peaking at 22.78, Wave C) – orange is targeting 16.86. There is no bullish evidence currently.
- Invalidation point: 23.78.
ASX: NST four-hour chart analysis
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Function: Major trend (Minor degree, grey).
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Mode: Motive.
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Structure: Impulse.
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Position: Wave C) – orange of Wave 4)) – navy.
Details:
No new data beyond the 1D chart. Since the 22.78 peak, Wave C) – orange is continuing lower, eyeing 16.86 as a target.
- Invalidation Point: 22.78.
Conclusion
Our forecast and technical evaluation for ASX: NST offer insights into the market’s current momentum. We outline precise price markers for validation and invalidation to strengthen the reliability of our Elliott Wave count. With a structured methodology, we aim to present the most objective and professional trading outlook.