AMAZON.COM INC.: WAVE ANALYSIS

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AMAZON.COM INC.: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point188.00
Take Profit210.00, 220.00
Stop Loss175.82
Key Levels143.70, 154.70, 175.82, 210.00, 220.00
Alternative scenario
RecommendationSELL STOP
Entry Point175.80
Take Profit154.70, 143.70
Stop Loss182.85
Key Levels143.70, 154.70, 175.82, 210.00, 220.00

The price is in correction, the probability of growth is maintained.

On the daily chart, wave C of the higher level continues to develop, which includes the construction of the third wave (3) of C. At the moment, the third wave of the lower level 3 of (3) has formed and a local correction has completed as the fourth wave 4 of (3). If the assumption is correct, the price will rise to the area of 210.00–220.00. The level of 175.82 is critical and stop-loss for this scenario.

AMAZON.COM INC.: WAVE ANALYSIS

AMAZON.COM INC.: WAVE ANALYSIS

Main scenario

Long positions are relevant above the level of 175.82 with targets at 210.00–220.00. Implementation time: 7 days and more.

Alternative scenario

Breakdown and consolidation of the price below the level 175.82 will allow the trading instrument to continue its downward dynamics to the area of 154.70–143.70.


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