Amazon.com Inc.: wave analysis

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Amazon.com Inc.: wave analysis
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point207.21
Take Profit220.00, 230.00
Stop Loss202.91
Key Levels118.06, 143.85, 185.40, 220.00, 230.00
Alternative scenario
RecommendationSELL STOP
Entry Point185.35
Take Profit143.85, 118.06
Stop Loss199.20
Key Levels118.06, 143.85, 185.40, 220.00, 230.00

Growth is possible.

On the daily chart, the wave C of the higher level develops, within which the third wave (3) of C has formed, and a correction has ended as the fourth wave (4) of C. Now, the fifth wave (5) of C is developing, within which the wave 5 of (5) is forming. If the assumption is correct, the asset will grow to the area of 220.00–230.00. In this scenario, critical stop loss level is 185.40.

Amazon.com Inc.: wave analysis

Amazon.com Inc.: wave analysis

Main scenario

Long positions will become relevant above the level of 185.40 with the targets at 220.00–230.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 185.40 will let the asset go down to the area of 143.85–118.06.


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