Amazon.comLong
Amazon Has An Incomplete Five-Wave Impulse
Amazon is trading an in impulsive bullish cycle since the beginning of 2023 and it looks to be unfinished from technical point of view and from Elliott wave perspective, because it needs to be finished by five waves.
Recent decline has occurred due to recession fears, but it was in three legs A-B-C, which belongs to a higher degree wave 4 correction, especially if we consider a nice rebound away from the strong trendline connected from 2023 lows.
So, watch out on a bullish continuation at the end of 2024 that can send the price back to new all-time highs for wave 5.
Recent decline has occurred due to recession fears, but it was in three legs A-B-C, which belongs to a higher degree wave 4 correction, especially if we consider a nice rebound away from the strong trendline connected from 2023 lows.
So, watch out on a bullish continuation at the end of 2024 that can send the price back to new all-time highs for wave 5.
👉wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.