The Elliott Wave pattern for ComfortDelGro correction is one of those that could go either way from different perspective. Hence, it is worth archiving it for future reference.
It is obvious the correction is unfolding into an ascending triangle correction. However, the questionable part is the first drop from the peak. The first drop looks develop into a 5-wave impulse (i-ii-iii-iv-v) highlighted in red in the chart. Normally, if the wave A of the correction is a 5-wave impulse, it should be quite clear the correction will develop into a zigzag and the triangle being the wave B. However, as the correction develops, the triangle turns into an ascending triangle. According to Elliott Wave, ascending triangle is linked to breakout to the upside. Should the triangle be wave B for the zigzag, it will either be a descending or a similar triangle. ......