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

Discover Mahindra & Mahindra Stock Analysis Using Elliott Wave Techniques: Explore Price Tends and Future Predictions

Discover Mahindra & Mahindra Stock Analysis Using Elliott Wave Techniques: Explore Price Tends and Future Predictions

Mahindra & Mahindra stock is showing strong upward momentum, with Elliott Wave analysis suggesting a...

Read More >
Commodity Corn: Elliott Wave analysis of Corn Prices Reveals Ongoing Bearish Trends and Potential Trading Opportunities

Commodity Corn: Elliott Wave analysis of Corn Prices Reveals Ongoing Bearish Trends and Potential Trading Opportunities

Our detailed Elliott Wave analysis of Corn prices reveals ongoing bearish trends and potential tradi...

Read More >
 ASX Trading Potential: BHP GROUP LIMITED - Elliott Wave Technical Analysis & Technical Forecast

ASX Trading Potential: BHP GROUP LIMITED - Elliott Wave Technical Analysis & Technical Forecast

Our detailed ASX: BHP GROUP LIMITED analysis explores Elliott Wave patterns and technical insights t...

Read More >
Comprehensive Elliott Wave Analysis for Leading NASDAQ Tech Stocks and S&P 500

Comprehensive Elliott Wave Analysis for Leading NASDAQ Tech Stocks and S&P 500

tay ahead in the financial markets with our expert Elliott Wave Analysis tailored for NASDAQ Tech St...

Read More >
Riding the Trend Wave: Crypto Price News Today Chainlink/ U.S. dollar (LINKUSD) Elliott Wave Technical Analysis

Riding the Trend Wave: Crypto Price News Today Chainlink/ U.S. dollar (LINKUSD) Elliott Wave Technical Analysis

Discover the latest insights into Chainlink/ U.S. dollar (LINKUSD) cryptocurrency trading with our c...

Read More >
Gain valuable insights into the current Forex market: British Pound/U.S. Dollar GBPUSD Elliott Wave Technical Analysis

Gain valuable insights into the current Forex market: British Pound/U.S. Dollar GBPUSD Elliott Wave Technical Analysis

This article provides an in-depth GBPUSD Elliott Wave Analysis, focusing on day and 4-hour charts. D...

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