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Amazon Inc.(AMZN) Stocks Elliott Wave Technical Analysis


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AMZN Elliott Wave Analysis Trading Lounge Daily Chart,
Amazon.com Inc., (AMZN) Daily Chart
AMZN Elliott Wave Technical Analysis
 
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION:  Minor wave 1
DIRECTION: upside in wave {v} of 1.  
DETAILS: Looking for upside towards Trading Level 2 at 200$, as we have just hit previous ATH with yesterday’s session.
 
Stocks24(1).thumb.png.731ff7dd9f752da4328076735d2dbf67.png
 
 
AMZN Elliott Wave Analysis Trading Lounge 4Hr Chart,
Amazon.com Inc., (AMZN) 4Hr Chart
AMZN Elliott Wave Technical Analysis
 
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Wave {v}  
DIRECTION: Upside in wave (v) of {v}.
DETAILS: Looking for upside into wave (v), the up move in (v) is not labelled as there are two main scenarios. The first one suggests we are extending with a series of ones and twos to then reach higher towards 200$. The other suggests we are moving upwards in a series of threes to form an ending diagonal.
 
Stocks24.thumb.png.c044ac71cd289b309af9927b1f1f8e36.png
 
 
Welcome to our AMZN Elliott Wave Analysis Trading Lounge, where we provide insights into Amazon.com Inc. (AMZN) using Elliott Wave Technical Analysis. Let's explore the market dynamics on both the Daily Chart and the 4Hr Chart as of April 12, 2024.
* AMZN Elliott Wave Technical Analysis – Daily Chart*
On the Daily Chart, our analysis indicates a trending market characterized by impulsive mode and motive structure, positioned in Minor wave 1. The direction suggests upside momentum in wave {v} of 1. With yesterday's session hitting previous All-Time High (ATH), we anticipate further upside movement towards Trading Level 2 at $200.
 
* AMZN Elliott Wave Technical Analysis – 4hr Chart*
Here, we observe a trending market marked by impulsive mode and motive structure, positioned in Wave {v}. The direction points to upside movement in wave (v) of {v}. However, the upmove in (v) is not specifically labelled due to two main scenarios. The first scenario suggests extension with a series of ones and twos, leading towards the $200 level. The second scenario proposes upward movement in a series of threes, potentially forming an ending diagonal.
 
Technical Analyst Alessio Barretta
 
Source : Tradinglounge.com get trial here!
 
 
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