AMZN Elliott Wave Analysis – Daily and 1-Hour Chart Overview
This Elliott Wave analysis for Amazon.com Inc. (AMZN) examines both the daily and 1-hour charts, applying Elliott Wave Theory to evaluate the current market trend and forecast potential future price movements.
Amazon Inc. (AMZN) Elliott Wave Analysis – Daily Chart
AMZN Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Minor wave 3
Direction: Upside within wave 3
Analysis Details:
We anticipate further upside momentum in wave 3, having completed wave {!}-{ii} around TradingLevel2 at $200. Currently, we are progressing higher within what appears to be Minute wave {iii}, indicating sustained bullish potential.
AMZN Elliott Wave Technical Analysis – Daily Chart Insights
The ongoing Elliott Wave pattern suggests a strong bullish outlook within Minor wave 3, with recent price action confirming the completion of wave {!}-{ii} at $200. The market structure remains solid, supporting an upward continuation into Minute wave {iii}, reinforcing the positive trend for AMZN.
Amazon Inc. (AMZN) Elliott Wave Analysis – 1-Hour Chart
AMZN Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave i of (iii)
Direction: Upside into wave (iii)
Analysis Details:
We expect further upside movement towards $220, providing additional confirmation of the uptrend resumption. The price action indicates a clear three-wave move subdivision in wave (ii), and a break above $220 will solidify the bullish market structure.
AMZN Elliott Wave Technical Analysis – 1H Chart Insights
Current market behavior supports further gains, with projections targeting $220 for a stronger bullish confirmation. The observed Elliott Wave pattern highlights a well-structured wave (ii) subdivision, pointing to further price appreciation within wave (iii).
Technical Analyst: Alessio Barretta
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