Unlocking ASX Trading Success: REA GROUP LTD – REA Stock Analysis & Elliott Wave Technical Forecast

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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 see REA.ASX possibly rising with wave ((iii))-navy.

ASX: REA GROUP LTD – REA  Elliott Wave Technical Analysis  

ASX: REA GROUP LTD – REA  1D Chart (Semilog Scale) Analysis

Function: Major trend (Minor degree, gray) 
Mode: Motive 
Structure: Impulse 
Position: Wave (i)-orange of Wave ((iii))-navy 
Details: Wave ((iii))-navy is unfolding to push higher. It is subdividing into wave (i)-orange, which will essentially continue to push higher. Any subsequent large decline would suggest that wave (ii)-orange is unfolding to push lower. Eventually, wave (iii)-orange will return to continue to push higher. 

Invalidation point: 187.27

ASX: REA GROUP LTD – REA  Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) l

ASX: REA GROUP LTD – REA  Elliott Wave Technical Analysis 

ASX: REA GROUP LTD – REA  4-Hour Chart Analysis

Function: Major trend (Minute degree, navy) 
Mode: Motive 
Structure: Impulse 
Position: Wave (i)-orange of Wave ((iii))-navy 

Details: Since the low of 172.49, the ((i)),((ii))-navy waves have been unfolding, and they have ended. The ((iii))-navy wave is starting its role since the low of 187.27, which itself is subdividing into the (i)-orange wave. Basically, it continues to push a little higher, possibly aiming at the target at 222.90. But the (i)-orange wave has pushed quite high, so it could end at any moment. The push below the low of 207.58 shows that the (ii)-orange wave is unfolding. 
Invalidation point: 187.27

 

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)

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