Details: We are looking at further upside into wave 3 as we seem to have complete wave {!}-{ii} at around TradingLevel2 at 200$ and we are now continuing higher in what should be Minute wave {iii}.

Amazon Inc., (AMZN) 1H Chart

AMZN Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave I of (iii).

Direction: Upside into wave (iii).

Details: Looking for continuation higher at 220$ to have additional confirmation of upside resumption as we seem to have a clear three wave move subdivision in wave (ii).

This Elliott Wave analysis for Amazon.com Inc., (AMZN) examines both the daily and 1-hour charts to assess its current market trend, utilizing Elliott Wave Theory to anticipate potential future movements.

AMZN Elliott Wave technical analysis – Daily chart

We anticipate further upside movement within Minor wave 3. After completing waves {!}-{ii} around TradingLevel2 at $200, we are now progressing higher in what should be Minute wave {iii}, continuing the uptrend. The structure remains strong, indicating further bullish momentum as wave 3 unfolds.

AMZN Elliott Wave technical analysis – One-hour chart

We are looking for continued upward movement towards $220, which would provide additional confirmation of the uptrend resumption. The wave (ii) subdivision shows a clear three-wave move, and breaking above $220 will further solidify the bullish outlook.

Technical analyst: Alessio Barretta.

AMZN Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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