AMZN Elliott Wave Analysis – Trading Lounge Daily Chart
Amazon.com Inc. (AMZN) – Daily Chart Analysis
AMZN Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave v of (iii)
Direction: Upward movement in wave (iii)
Details:
Amazon stock (AMZN) remains in an impulsive upward trend, progressing through Minuette wave (iii). Following a two-week consolidation near the key $200 resistance area (TradingLevel2), the price is now pushing towards the top boundary of MinorGroup1. This breakout indicates that the next bullish phase in the Elliott Wave cycle could be underway, reflecting positive momentum in Amazon’s stock price action.
AMZN Elliott Wave Analysis – Trading Lounge 1H Chart
Amazon.com Inc. (AMZN) – 1H Chart Analysis
AMZN Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave 3 of iii
Direction: Upward momentum in micro wave 3
Details:
On the 1-hour timeframe, Amazon's stock is forming a strong upward impulse, developing into submicro wave 3 within micro wave 3. This bullish wave structure supports the ongoing rally, with price momentum gaining strength. The current formation confirms the wave count and highlights potential for continued upward movement in the short term.
Technical Analyst: Alessio Barretta
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Overview:
This Elliott Wave analysis of Amazon.com Inc. (AMZN) leverages both the daily and hourly charts to assess price dynamics through a technical lens. The broader trend shows an active Minuette wave (iii) climb, while the 1H chart reveals accelerating bullish activity in micro wave 3. These patterns support a strong short- and medium-term outlook for AMZN stock.