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CPU trade ideas

buying idea CPUCPU has consolidate at top for some time now and looking to make a move! with a stop around 6.5% (32.74) it's a good entry point to see how it will react in coming weeks to earnings. DISCLAIMER : The content and materials featured are for your information and education only and are not attended to address your particular personal requirements. The information does not constitute financial advice or recommendation and should not be considered as such. Risk Management is Your Shield! Always prioritise risk management. It’s your best defence against losses.
ASX:CPULong
by Gihanhemachandra
(XNJ): INDUSTRIALS SECTOR (ASX): CPU - COMPUTERSHARE LIMITED || (XNJ): INDUSTRIALS SECTOR (XNJ): INDUSTRIALS SECTOR (ASX): CPU - COMPUTERSHARE LIMITED || March 10, 2024 Master of Elliott Wave Analysis: Shane Hua (CEWA-M). Bottom line: CPU may continue to rise higher. (Left chart): The broader context (1D chart) shows that wave 2-red appears to have ended at 22.87, and wave 3-red is unfolding towards higher targets. I've counted waves ((i)), ((ii))-green, and wave (i)-purple, with wave (i) having peaked. Now is the time for wave (ii) to dip lower before wave (iii) resumes aiming for higher targets, while price consistently holds above the low at 24.28. A dip below this level calls for serious consideration of alternate wave counts (ALT). The alternate wave count (ALT) suggests that wave 2-red may extend beyond expectations, and the entire 3-wave advance from the low at 22.87 is just part of its overall process. It's likely a Flat Correction at a higher degree, and its decline would seek support around 22.87 before wave 3-red truly resumes. (Right chart): The short-term outlook (4H chart) provides more detail on what I've mentioned. Wave (ii)-purple is currently underway, retracing lower, with potential support found in the 0.618 - 0.786 range. If this forecast holds true, it implies that wave (iii)-purple will rise with the setup of the "third of the third of the third," indicating strong upward momentum. It's suggested that price must maintain above the low at 24.28, and a rally above the high at 26.15 would reinforce this bullish outlook. Master of Elliott Wave Analysis: Shane Hua (CEWA-M). Bottom line: CPU may continue to rise higher. (Left chart): The broader context (1D chart) shows that wave 2-red appears to have ended at 22.87, and wave 3-red is unfolding towards higher targets. I've counted waves ((i)), ((ii))-green, and wave (i)-purple, with wave (i) having peaked. Now is the time for wave (ii) to dip lower before wave (iii) resumes aiming for higher targets, while price consistently holds above the low at 24.28. A dip below this level calls for serious consideration of alternate wave counts (ALT). The alternate wave count (ALT) suggests that wave 2-red may extend beyond expectations, and the entire 3-wave advance from the low at 22.87 is just part of its overall process. It's likely a Flat Correction at a higher degree, and its decline would seek support around 22.87 before wave 3-red truly resumes. (Right chart): The short-term outlook (4H chart) provides more detail on what I've mentioned. Wave (ii)-purple is currently underway, retracing lower, with potential support found in the 0.618 - 0.786 range. If this forecast holds true, it implies that wave (iii)-purple will rise with the setup of the "third of the third of the third," indicating strong upward momentum. It's suggested that price must maintain above the low at 24.28, and a rally above the high at 26.15 would reinforce this bullish outlook.
ASX:CPULong
by ShaneHua