ASX: Coles Group Limited \u2013 COL Elliott Elliott Wave<\/a> Technical Analysis TradingLounge (1D Chart)<\/p>\n Greetings, Our Elliott Wave analysis today updates the Australian Stock\u00a0Exchange (ASX) with COLES GROUP LIMITED. \u2013 COL. In our ASX Stocks<\/a> Top 50 forecast<\/a> service, we have accurately forecast a price decline from a high of around 17.15 down to around 16.00 at the current low. And we are now identifying COL could move higher in the short term outlook.<\/p>\n Function:<\/strong> Counter trend (Minute degree, green).<\/p>\n Mode:<\/strong> Corrective.<\/p>\n Structure:<\/strong> Double Zigzag.<\/p>\n Position:<\/strong> Wave (b)-purple of Wave ((y))-green.<\/p>\n Latest forecast:<\/strong> Accurate forecast.<\/p>\n Details:<\/strong> The short-term outlook indicates that wave ((y))-green is unfolding as a Zigzag, and wave (a)-purple has ended. Therefore, wave (b)-purple is expected to continue pushing lower, seeking support around 16.01 – 15.71 before wave (c)-purple returns to rise higher. Pushing higher off 17.15 would renew the bull market view.<\/p>\n Invalidation point: <\/strong>15.35.<\/p>\n <\/a><\/p>\n Function:<\/strong> Counter trend (Minute degree, green).<\/p>\n Mode:<\/strong> Motive.<\/p>\n Structure:<\/strong> Impulse.<\/p>\n Position: <\/strong>Wave (c)-purple of Wave ((y))-green.<\/p>\n Details:<\/strong> The shorter-term outlook suggests it appears the (b)-purple wave has bottomed, but a move higher than level 16.5 is needed to confirm this outlook. If this forecast is correct, wave (c)-purple will be opened to continue pushing higher, aiming for higher targets.<\/p>\nASX: Coles Group Limited \u2013 COL Elliott Wave technical analysis\u00a0\u00a0<\/h2>\n
ASX: Coles Group Limited \u2013 COL four-hour chart<\/a> analysis<\/h2>\n
![\"Chart\"](\"https:\/\/editorial.fxstreet.com\/miscelaneous\/coles1-638494441238931074.png\")
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