Car Group Limited Elliott Wave Technical Analysis [Video]

ASX: Car Group Limited – Auto Elliott Wave Technical Analysis

Welcome. Today's Elliott Wave update focuses on the listed Australian stock exchange (ASX) Auto group Limited – Auto.
Our analysis shows that CAR has probably completed a correction wave, especially a wave (4) in orange and forms a zigzag structure. This could suggest the beginning of a bullish trend. This brief overview will describe the potential future price movement and the most important disability levels for our analysis.

One-tag diagram (Semilog scale) overview

• Function: Main trend (medium degree, orange).

• Mode: Motif.

• Structure: Pulse.

• Position: Welle III)) – Marine within the wave (5) – Orange.

Details:

Welle (4) – since the 42.71 high and probably 42.71 -orange of 28.40. It appears as an ABC zigzag, with the C-gray component shows five different sub-waves, which indicates the completion. Therefore, the formation of wave (5) – orange is expected. The latest market campaign supports the development of Wave III)) – Navy, which may be aimed at the level of 39.68 – 40.00.