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By tradinglounge · Posted
NEE Elliott Wave Analysis Trading Lounge Daily Chart, NextEra Energy Inc., (NEE) Daily Chart NEE Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minor 3. DIRECTION: Top in 3. DETAILS: Looking for a three wave move in wave 2 to be soon completed, to then continue higher. Looking for Minor wave 3 to keep unfolding into a clear five wave move, the next level of resistance will be TL8 at 80$. NEE Elliott Wave Analysis Trading Lounge 4Hr Chart, NextEra Energy Inc., (NEE) 4Hr Chart NEE Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (v) of {iii} DIRECTION: Upside in (v). DETAILS: Looking for upside into wave (v), volume confirm the bullish move, and we have equality of {iii} vs. {i} already surpassed at 75$, 1.618 stands at 84$. Welcome to our latest Elliott Wave analysis for NextEra Energy Inc. (NEE). This analysis provides an in-depth look at NEE's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on NEE's market behavior. * NEE Elliott Wave Technical Analysis – Daily Chart* In our Elliott Wave analysis of NextEra Energy Inc. (NEE) on May 29, 2024, we observe an impulsive trend characterized by a motive structure. NEE is currently positioned in Minor wave 3, indicating a top in wave 3. We anticipate a three-wave move in wave 2 to be completed soon, after which the trend should continue higher. As Minor wave 3 unfolds into a clear five-wave move, traders should look for the next level of resistance at TL8 around $80. Monitoring this level can provide confirmation of the ongoing bullish trend. * NEE Elliott Wave Technical Analysis – 4Hr Chart* On the 4-hour chart, NEE is following an impulsive trend within a motive structure, specifically in wave (v) of {iii}. The current analysis indicates that we are looking for further upside in wave (v), with volume confirming the bullish move. The equality of wave {iii} vs. {i} has already been surpassed at $75, with the 1.618 extension standing at $84. Traders should watch for potential resistance around this level, which could offer strategic opportunities for profit-taking or positioning for further upside. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
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By CryptoSaint · Posted
Compared to other meme tokens, Dogecoin (DOGE) currently acts as the "dark horse." It hasn't yet participated in a significant rally or reached new highs, indicating potential for upward movement. Resistance and Potential Breakthrough Dogecoin price is currently challenging the resistance zone between $0.170 and $0.180. If it successfully breaches this barrier, it could significantly amplify its upward trend, with the next target for buyers at $0.197. Possible Correction and Support Levels In the event of a correction, DOGE is expected to test the support zones at $0.147 to $0.150 and $0.136 to $0.142. SHIB: Poised for Growth For the last two weeks, Shiba Inu (SHIB) has been trading within a wide flat range, fluctuating between the buying zone at $0.0000235–$0.0000241 and the selling zone at $0.0000260–$0.0000270. The token is showing strong potential for growth. Factors Driving SHIB's Potential There are two main factors at play: ongoing enthusiasm for meme tokens and significant interest in the Ethereum blockchain, which hosts Shiba Inu, especially following the recent approval of an ETF. Expected Growth and Targets As a result, Shiba Inu stock is expected to accelerate its growth soon, potentially testing new highs, with an immediate target of $0.0000282. Possible Correction and Support Levels While a corrective scenario is possible, it would likely be a temporary setback within an overall upward trend. Key support zones are currently at $0.0000210–$0.0000225.
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