ASX: Rea Group Ltd. – REA Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with Rea Group Ltd. – REA. We identified that wave 2-red may have just ended, and wave 3-red could push much higher.ASX: Rea Group Ltd. – REA Elliott Wave Technical Analysis ASX: Rea Group Ltd. – REA 1D Chart (Semilog Scale) AnalysisFunction: Major trend (Minor degree, red)Mode: MotiveStructure: ImpulsePosition: Wave (iii)-purple of Wave 3-redDetails: The outlook suggests that wave 2-red has recently concluded, and wave 3-red is now unfolding to push higher. It is subdividing into waves (i) and (ii)-purple, which have ended, and wave (iii)-purple is opening up to push higher. Invalidation point: 175.19
ASX: Rea Group Ltd. – REA Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)ASX: Rea Group Ltd. – REA Elliott Wave Technical AnalysisASX: Rea Group Ltd. – REA 4-Hour Chart AnalysisFunction: Major trend (Minuette degree, purple)Mode: MotiveStructure: ImpulsePosition: Wave (iii)-purpleDetails: The shorter-term outlook shows that wave 3-red is unfolding, subdividing into waves (i),(ii)-purple, which appear to have concluded. Wave (iii)-purple is now opening up to push higher, aiming for the immediate target around $200, while the price must always remain above the level of 175.19.Invalidation point: 175.19
Conclusion:
Our analysis, forecast of contextual trends, and short-term outlook for ASX: Rea Group Ltd. – REA 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.Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).More By This Author:Elliott Wave Technical Analysis: Dogecoin Crypto Price News
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