NextEra Energy Inc.(NEE) Elliott Wave technical analysis [Video]

NextEra Energy Inc., (NEE) Daily Chart

NEE Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Minor 3.  

Direction: Top in 3.  

Details: Looking for a three wave move in wave 2 to be soon completed, to then continue higher.  Looking for Minor wave 3 to keep unfolding into a clear five wave move, the next level of resistance will be TL8 at 80$.  

NEE Elliott Wave technical analysis – Daily chart

In our Elliott Wave analysis of NextEra Energy Inc. (NEE) on May 29, 2024, we observe an impulsive trend characterized by a motive structure. NEE is currently positioned in Minor wave 3, indicating a top in wave 3. We anticipate a three-wave move in wave 2 to be completed soon, after which the trend should continue higher. As Minor wave 3 unfolds into a clear five-wave move, traders should look for the next level of resistance at TL8 around $80. Monitoring this level can provide confirmation of the ongoing bullish trend.

NEE Elliott Wave technical analysis – Four-hour chart

On the 4-hour chart, NEE is following an impulsive trend within a motive structure, specifically in wave (v) of {iii}. The current analysis indicates that we are looking for further upside in wave (v), with volume confirming the bullish move. The equality of wave {iii} vs. {i} has already been surpassed at $75, with the 1.618 extension standing at $84. Traders should watch for potential resistance around this level, which could offer strategic opportunities for profit-taking or positioning for further upside.

Function: Trend.

Mode: Impulsive.

Structure: Motive.  

Position: Wave (v) of {iii}.

Direction: Upside in (v).

Details: Looking for upside into wave (v), volume confirm the bullish move, and we have equality of {iii} vs. {i} already surpassed at 75$, 1.618 stands at 84$.

NextEra Energy Inc.(NEE) Elliott Wave technical analysis [Video]