AMZN chart is surprisingly technical ticks by ticks.
At this point, it does seem like AMZN has completed its intermediate wave III and a correction to 1100 is highly likely the case. Technically, any where within 990-1100 range (red box) is a valid target for this coming correction. But I would think the most possible target is around 1100 level where price will test the resistance zone formed by previous high (3) (yellow box).
After that, minimum target for wave V is 1700-1750 (green box).
At this point, it does seem like AMZN has completed its intermediate wave III and a correction to 1100 is highly likely the case. Technically, any where within 990-1100 range (red box) is a valid target for this coming correction. But I would think the most possible target is around 1100 level where price will test the resistance zone formed by previous high (3) (yellow box).
After that, minimum target for wave V is 1700-1750 (green box).
Commentaire:
Adjusted targets to more reasonable time frame.
