Grab Holdings (GRAB) - Set for New Highs?🔍 Analysis Overview
This chart outlines a possible Elliott Wave corrective structure on Grab's daily timeframe. The analysis focuses on the following:
Corrective Wave Pattern:
- Wave W and X appear complete, with wave Y potentially targeting the Fibonacci retracement zone.
Wave Y Target Zone:
- Primary target between 4.57 (1.236) and 4.40 (1.382), supported by the downward channel trendline.
Bullish Targets Post-Correction:
- Immediate target at 6.24, with a secondary target at 6.56, assuming the corrective structure resolves bullishly.
Risk Management:
- Stop-loss positioned at 4.35 to account for a breakdown scenario invalidating the wave count.
📊 Indicators:
- RSI and MFI suggest the possibility of further correction before resuming an upward trend, providing additional confidence in the projected wave Y completion zone.
