AMAZON.COM INC.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 148.47 |
| Take Profit | 171.90, 180.00 |
| Stop Loss | 142.45 |
| Key Levels | 117.75, 134.10, 142.45, 171.90, 180.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 142.40 |
| Take Profit | 134.10, 117.75 |
| Stop Loss | 145.15 |
| Key Levels | 117.75, 134.10, 142.45, 171.90, 180.00 |
Growth is possible.
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 forms as the wave (B) of B. Now, the formation of the wave C of (B) has started, within which the third wave of the lower level iii of C is forming. If the assumption is correct, the asset will grow to the area of 171.90–180.00. In this scenario, critical stop loss level is 142.45.
Main scenario
Long positions will become relevant above the level of 142.45 with the targets at 171.90–180.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 142.45 will let the asset go down to the area of 134.10–117.75.
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