Get started

Amazon_setup

AMAZON close to the round number 📖💡🚀Hello 🐋 Based on the chart after a long time, correction to the downside the price is close to the round number $100, major support and the channel support ✔️ if the price doesn't break the round number and the major support to the downside we will see gain from here beside, the range market is an acceptable scenario too 📖💡🚀 otherwise we can see more gain from the previous low ❌🧨 Please, feel free to share your point of view, write it in the comments below, thanks 🐋
NASDAQ:AMZNLong
by MadWhale
5
Elliott Wave Analysis: Amazon Showing Impulse RallyHello Traders, In this Elliott Wave Analysis, we will have a look at Amazon. Short-term it is suggesting that the cycle from 6/25/2018 low ($1646.31) is rallying higher in an impulse structure. This suggests that the internal sub-division of each leg higher is unfolding as 5 waves structure of lesser degree i.e black wave ((i)), ((iii)) & ((v)), whereas wave ((ii)) & ((iv)) has subdivision of 3 corrective waves. Up from $1646.31 low, a rally higher to $1725 high completed black wave ((i)) in 5 waves leading diagonal structure. Down from there, the 3 waves pullback to $1684.30 low ended black wave ((ii)) as zigzag structure. Above from there, the stock made another 5 waves advance which ended black wave ((iii)) at $1841.95 peak. Below from there, the pullback to $1791 low ended black wave ((iv)) in lesser degree 3 swings. Up from there black wave ((v)) remains in progress which is expected to unfold in another 5 waves structure. Target for black wave ((v)) comes at $1868.58-$1887.15 ( black wave ((v))=((i)) ) area for the completion of cycle from 6/25/2018 low in red wave 1 or wave A. Afterwards, the stock is expected to do a pullback in red wave 2 or wave B in 3, 7 or 11 swings before further upside is seen provided the pivot from $1646.27 low stays intact. We don’t like selling it.
NASDAQ:AMZNLong
by Elliottwave-Forecast