Amazon.comLong
Amazon's 1.5yr-long Triple-Three Correction is Complete
For those of you tracking Elliott Waves, Amazon has been struck in a Triple-Three correction since August of 2020. Here is a breakdown of the sub-waves:
Tracking the larger degree waves can be challenging but I believe this Triple-Three is Wave-2 of the current primary wave. If we assume that the coming Wave-3 will be 1.618 times Wave-1 on a logarithmic chart, we can expect AMZN price action to reach almost $10,000 per share by the end of the year.
There is no doubt that the current selling has put Amazon at a bargain price, and this is a great example of a "buy the dip" moment. Amazon has been making steady gains in revenue and is in a great position to expand its services around the world.
- Wave W: Regular Flat
- Wave X1: Triangle
- Wave Y: Zigzag
- Wave X2: Zigzag
- Wave Z: Expanded Flat (ending slightly beyond the 1.618 Fib level)
Tracking the larger degree waves can be challenging but I believe this Triple-Three is Wave-2 of the current primary wave. If we assume that the coming Wave-3 will be 1.618 times Wave-1 on a logarithmic chart, we can expect AMZN price action to reach almost $10,000 per share by the end of the year.
There is no doubt that the current selling has put Amazon at a bargain price, and this is a great example of a "buy the dip" moment. Amazon has been making steady gains in revenue and is in a great position to expand its services around the world.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.