CAR stock analysis and Elliott Wave technical analysis [Video]
ASX: CAR GROUP LIMITED – CAR Elliott Elliott Wave Technical Analysis TradingLounge.
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) CAR GROUP LIMITED – CAR. We see ASX:CAR continuing to push lower in the coming period with wave (4)-orange, then wave (5)-orange will return to push higher.
CAR 1D chart (semilog scale) analysis
Function: Major trend (Intermediate degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave (4)-orange.
Details: Wave (3)-orange should have ended recently as I got from wave 1-grey to wave 5-grey, so that’s a warning bell that wave (4)-orange is unfolding to push significantly lower, targeting around 32.25, after which wave (5)-orange…
