AMAZON.COM INC.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Time interval | Weekly |
| Recommendation | BUY |
| Entry point | 197.56 |
| Take Profit | 220.00, 230.00 |
| Stop Loss | 181.06 |
| Key levels | 143.70, 154.70, 181.06, 220.00, 230.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry point | 181.05 |
| Take Profit | 154.70, 143.70 |
| Stop Loss | 189.85 |
| Key levels | 143.70, 154.70, 181.06, 220.00, 230.00 |
The probability of growth remains.
On the daily chart, wave C of the upper level continues, whose limits are forming the third wave (3) of C. Currently, the third wave 3 of (3) of the lower level has formed, a local correction as the fourth wave has been completed 4 of (3) and we can observe fifth wave 5 of (3), whose limits are forming a wave iii of 5. If the forecast is correct, the asset price will grow to the area of 220.00–230.00. In this scenario, the critical Stop Loss level is 181.06.
The main scenario
Long positions are current above level 181.06 with targets at 220.00–230.00. The completion period is: 7 days and more.
Alternative scenario
Breaking and fixing the price below the level of 181.06 will allow the trading instrument to continue downward dynamics to the area of 154.70–143.70.
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