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Reading: Elliott Wave Technical Forecast by Rea Group Ltd [Video]
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Gulf Press > Business > Forex > Elliott Wave Technical Forecast by Rea Group Ltd [Video]
Forex

Elliott Wave Technical Forecast by Rea Group Ltd [Video]

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Last updated: 2024/05/14 at 5:21 AM
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REA Group Ltd (ASX: REA) has been analyzed using Elliott Wave technical analysis, with the conclusion that wave 2-red may have ended, and wave 3-red is now unfolding to push higher. The analysis suggests that the stock is in a Major trend (Minor degree, red), with a motive impulse structure. Wave (iii)-purple of Wave 3-red is currently in progress, with waves (i) and (ii)-purple already completed. The outlook for REA Group Ltd is positive, with wave 3-red expected to push the stock price higher.

On the four-hour chart analysis, REA Group Ltd is shown to be in a Major trend (Minuette degree, purple), with a motive impulse structure. Wave (iii)-purple is currently unfolding, with waves (i),(ii)-purple already completed. The immediate target for wave (iii)-purple is around $200, with the price needing to remain above the invalidation point of 175.19. The analysis provides a clear and concise outlook for the stock, offering insights into the short-term trends and potential price movements.

In conclusion, the analysis of ASX: REA GROUP LTD – REA aims to provide readers with valuable insights into the current market trends and how to capitalize on them effectively. Specific price points are provided as validation or invalidation signals for the wave count, enhancing confidence in the perspective presented. By combining these factors, readers are offered an objective and professional perspective on the market trends, enabling them to make informed decisions when trading REA Group Ltd on the Australian Stock Exchange.

Overall, the Elliott Wave technical analysis of REA Group Ltd offers a comprehensive view of the stock’s current position and potential future movements. The analysis provides a clear understanding of the Major trends and structures at play, allowing traders to make well-informed decisions when trading ASX: REA Group Ltd – REA. By following the outlined analysis and price points, traders can better navigate the market and take advantage of potential opportunities for profit.

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News Room May 14, 2024
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