Car Group Limited – CAR Elliott Wave technical analysis [Video]
ASX: CAR Elliott Wave technical analysis
Today’s Elliott Wave review covers CAR GROUP LIMITED (ASX:CAR), listed on the Australian Stock Exchange. Based on our current chart patterns, it appears that the stock has recently completed a corrective wave labeled (4) – orange, in the form of a Zigzag pattern. This may indicate an upward trend could follow, opening up potential for bullish movement. This brief technical outlook outlines the forecasted direction and the critical price points that support this wave structure.
One-day chart (semilog scale) review
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Function: Intermediate trend (orange label).
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Mode: Motive.
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Structure: Impulse.
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Current wave position: Wave iii)) – navy, within…
