AMAZON.COM INC.: WAVE ANALYSIS

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AMAZON.COM INC.: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point128.05
Take Profit147.00, 158.00
Stop Loss118.35
Key Levels107.15, 112.65, 118.35, 147.00, 158.00
Alternative scenario
RecommendationSELL STOP
Entry Point118.30
Take Profit112.65, 107.15
Stop Loss120.20
Key Levels107.15, 112.65, 118.35, 147.00, 158.00

The price is in a correction and may grow.

On the daily chart, a downward correction of the higher level develops as the wave B, within which the wave (А) of B ended, and an upward correction develops as the wave (B) of B. Now, the wave of the lower level A of (B) forms, within which the third wave iii of A has developed, and a local correction is forming as the fourth wave iv of A. If the assumption is correct, the asset will grow to the area of 147.00–158.00. In this scenario, critical stop loss level is 118.35.

AMAZON.COM INC.: WAVE ANALYSIS

AMAZON.COM INC.: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 118.35 with the targets at 147.00–158.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 118.35 will let the asset go down to the area of 112.65–107.15.

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