22Oct

Expert insights into Coles Group's stock performance: Coles Group Limited Stock Analysis & COL Elliott Wave Technical Forecast

TradingLounge ASX: Coles Group Limited Stock Analysis - 1D Chart

Introduction

Our updated Elliott Wave analysis focuses on COLES GROUP LIMITED (COL) listed on the Australian Stock Exchange (ASX). We foresee a potential short-term rally for COL, followed by a pullback to lower price levels.

ASX: COLES GROUP LIMITED (COL) 1D Chart (Semilog Scale)

COL Elliott Wave Technical Analysis

Function: Major trend (Minute degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave (4) - orange

Details:
Wave (3) - orange has recently concluded, and wave (4) - orange is currently in progress, suggesting further downside movement. The sharp and bearish nature of wave (4) requires close monitoring until sufficient evidence of wave (5) - orange starting emerges.

Invalidation Point: 17.15

Coles-Group-Limited-...


ASX: COLES GROUP LIMITED (COL) 4-Hour Chart Analysis

Function: Major trend (Intermediate degree, orange)

Mode: Motive

Structure: Impulse

Position: Wave B - grey of Wave (4) - orange

Details:
In the 4-hour chart, wave (4) - orange appears to unfold as a Zigzag pattern. Wave A - grey has already been completed, and wave B - grey is anticipated to move higher shortly. Following that, wave C - grey is expected to push lower, finalizing the fourth wave. The notable depth of wave four's retracement signals the importance of closely monitoring future developments.

Invalidation Point: 17.15

Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: NEWMONT CORPORATION - NEM Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

Coles-Group-Limited-...


Conclusion

Our technical analysis of ASX: COLES GROUP LIMITED (COL) provides insights into the ongoing market trends and potential trading opportunities. We highlight key price levels to validate or invalidate our wave counts, offering traders increased confidence in our outlook. This analysis aims to deliver a professional and objective perspective on the current market movements.

Related

Comprehensive Elliott Wave Analysis & Trading Strategies for NASDAQ 100, SP500, and Top Tech Stocks

Comprehensive Elliott Wave Analysis & Trading Strategies for NASDAQ 100, SP500, and Top Tech Stocks

Comprehensive Elliott Wave Analysis & Trading Strategies for NASDAQ 100, SP500, and Top Tech Stocks ...

Read More >
NZDUSD Forex Market: Expert New Zealand Dollar/ U.S. Dollar Elliott Wave Technical Analysis and Trading Strategies

NZDUSD Forex Market: Expert New Zealand Dollar/ U.S. Dollar Elliott Wave Technical Analysis and Trading Strategies

Get an in-depth analysis of NZDUSD using Elliott Wave theory. Our analysis covers the current trend,...

Read More >
MACQUARIE GROUP LIMITED MQG Elliott Wave Analysis – Trading Strategy, and Technical Analysis for ASX Investors

MACQUARIE GROUP LIMITED MQG Elliott Wave Analysis – Trading Strategy, and Technical Analysis for ASX Investors

Elliott Wave analysis of ASX: Macquarie Group Limited (MQG), focusing on current market trends, pric...

Read More >
Unlocking ASX Trading Success: NORTHERN STAR RESOURCES LTD – NST Stock Analysis & Elliott Wave Technical Forecast

Unlocking ASX Trading Success: NORTHERN STAR RESOURCES LTD – NST Stock Analysis & Elliott Wave Technical Forecast

This article provides a detailed Elliott Wave technical analysis of Northern Star Resources Ltd (NST...

Read More >
NEO / U.S. dollar(NEOUSD) Elliott Wave Technical Analysis 10 January 24

NEO / U.S. dollar(NEOUSD) Elliott Wave Technical Analysis 10 January 24

NEO and U.S. dollar(NEOUSD) Elliott Wave Technical Analysis dated 10 January 24, NEOUSD Crypto Analy...

Read More >
S&P 500 ELLIOTT WAVE ANALYSIS, 4 NOV. 2021

S&P 500 ELLIOTT WAVE ANALYSIS, 4 NOV. 2021

SP500 NASDAQ 100 Russell 2000 Technical Analysis Elliott Wave Forecast & Trading. S&P 500: Bullish t...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competive edge with expert insights in to:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
-Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on