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NABElliott Wavetechnical analysis
Today’s Elliott Wave update focuses on the Australian Stock Exchange (ASX) and the stockNATIONAL AUSTRALIA BANK LIMITED – NAB.
Current analysis suggestsASX:NABshares may be entering a bullish phase after completing a recent corrective wave.
ASX: NAB Elliott Wave Technical Analysis – 1D Chart (Semilog Scale)
Details:
Wave (2) – Orange may have completed at the32.360level, forming an Expanded Flat labeledA, B, C – Grey. Wave C – Grey shows a five-wave structure. As a result, Wave (3) – Orange may now be developing to the upside.
Invalidation point:32.360.
NAB Elliott Wave technical analysis
Details:
Following the32.360low, Wave (3) – Orange appears to be unfolding, subdivided into waves((i)) – Navyand((ii)) – Navy, likely completed. Wave ((iii)) – Navy is now progressing upwards, with a target near36.83.
Invalidation point:132.76.
Conclusion
This analysis offers a contextual forecast and near-term outlook forASX: NATIONAL AUSTRALIA BANK LIMITED – NAB, helping traders identify current market dynamics and strategic opportunities. Key price points serve as validation or invalidation markers to strengthen the wave count’s reliability. Combined with professional interpretation, this perspective is designed to support informed trading decisions.
Technical analyst:Hua (Shane) Cuong, CEWA-M (Master’s Designation).
NABElliott Wave technical analysis [Video]
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