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COL Elliott Wave technical analysis
Market update
Our Elliott Wave analysis on COLES GROUP LIMITED (ASX: COL) shows renewed upside potential. The primary uptrend, labeled wave 3‑grey, remains extended. In the short term, its internal correction, wave ii‑navy, is approaching completion as a zigzag formation. Once wave ii‑navy ends, wave iii‑navy could resume the main trend and push higher.
One-hour chart (semilog scale) analysis
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Function: Major trend (Intermediate degree, Orange).
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Mode: Motive.
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Structure: Impulse.
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Position: Wave ii‑navy of Wave 3‑grey.
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Details:
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Since the 18.33 low, Wave 3‑grey is expanding and subdividing into i‑navy – ii‑navy – iii‑navy.
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Wave ii‑navy is nearing its zigzag end (a‑b‑c orange), likely targeting ~21.10–20.31.
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After completion, watch for wave iii‑navy to unfold upward.
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Invalidation point: 18.33.
COL Elliott Wave technical Analysis – Four‑hour chart
Conclusion
Our analysis offers a comprehensive short-term and contextual outlook for COLES GROUP LIMITED (COL). We identify clear price levels—both validation and invalidation points—to sharpen confidence in our wave count and trend projections. These insights aim to empower readers with an objective, professional view on ASX market dynamics.
Coles Group Limited – COL analysis and Elliott Wave technical forecast [Video]
