ASX: LIGHT & WONDER INC. – LNW Elliott Elliott Wave Technical Analysis TradingLoungeGreetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) LIGHT & WONDER INC. – LNW. We see that ASX:LNW has not really gone up with wave three, instead wave two is still active, and there is still a further decline to come. This analysis will also give readers an idea of what the dominant trend is, whether it is a good idea to buy the stock at this point, and include clear visual price levels to know when the trend will change.ASX: LIGHT & WONDER INC. – LNW 1D Chart (Semilog Scale) AnalysisFunction: Major trend (Intermediate degree, orange)Mode: MotiveStructure: ImpulsePosition: Wave 2-grey of Wave (3)-orangeDetails: I don’t think wave 2-grey is over yet, and there is still a leg to push lower with wave ((c))-navy. A push above 158.98 would require a reassessment of the entire situation, as the bull market trend may be unfolding.Invalidation point: 114.35Confirmation point: 158.98 ASX: LIGHT & WONDER INC. – LNW 4-Hour Chart AnalysisFunction: Major trend (Intermediate degree, orange)Mode: MotiveStructure: ImpulsePosition: Wave ((c))-navy of Wave 2-greyDetails: I see that the 2-grey wave still has more potential to go down, even in the ALT alternative scenario, it also shows that we have a decline down with the ((c))-navy wave, the difference is that the ((b))- wave in the ALT Alternative is not really over, but there is still a gentle advance with the (y)-orange wave. So the current 3-grey wave does not really have any evidence to convince me that it is unfolding, and I would not be surprised to see the 2-grey wave continue lower afterwards.Invalidation point: 158.98 Conclusion:Our analysis, forecast of contextual trends, and short-term outlook for ASX: LIGHT & WONDER INC. – LNW aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.More By This Author:Chainlink (LINKUSD) Crypto Price News And Elliott Wave Technical Analysis
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