ASX: REA Group Ltd - REA Elliott Wave Technical Analysis (1D Chart)

Greetings, today's Elliott Wave analysis focuses on the Australian Stock Exchange (ASX) with REA Group Ltd - REA. We observe that REA could potentially rise further with the third wave of the third wave.

ASX: REA Group Ltd - REA Elliott Wave Technical Analysis

ASX: REA Group Ltd - REA 1D Chart (Semilog Scale) Analysis

Function: Major trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave iii - gray of Wave (iii) - orange of Wave 3 - gray

Details: The short-term outlook indicates that wave iii - gray is progressing to push higher, with the price needing to remain above 181.68.

Invalidation point: 181.68

ASX: REA Group Ltd - REA Elliott Wave Analysis TradingLounge (4-Hour Chart)

ASX: REA Group Ltd - REA Elliott Wave Technical Analysis

ASX: REA Group Ltd - REA 4-Hour Chart Analysis

Function: Major trend (Minuette degree, orange)

Mode: Motive

Structure: Impulse

Position: Wave (iii) - orange of Wave ((iii)) - navy of Wave 3 - grey

Details: Wave (iii) - orange of wave ((iii)) - navy is advancing to push higher. It is crucial that the price stays above 189.80 to sustain this outlook.

Invalidation point: 189.80

Conclusion: Our analysis and forecast of contextual trends, alongside the short-term outlook for ASX: REA Group Ltd - REA, aim to provide insights into current market trends and how to leverage them effectively. We offer specific price points as validation or invalidation signals for our wave count, enhancing confidence in our perspective. By integrating these elements, we strive to deliver the most objective and professional perspective on market trends.

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

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

Previous: Woolworths Group Elliott Wave Technical Analysis

Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here

Access 7 Analysts Over 170 Markets Covered. Chat Room With Support