29May

NextEra Energy Inc.(NEE) Stocks Elliott Wave Technical Analysis: Covers Stock Predictions, Technical insights, And wave pattern analysis

NEE Elliott Wave Analysis Trading Lounge Daily Chart,

NEE Elliott Wave Analysis: Daily Chart Analysis

NEE Elliott Wave Technical Analysis

Trend: Impulsive

Structure: Motive

Position: Minor 3

Direction: Top in 3

Overview:

In the daily chart of NextEra Energy Inc. (NEE), the Elliott Wave analysis indicates an impulsive trend, suggesting a strong and clear directional move. The structure is classified as motive, which is typical for impulsive waves. Currently, the position is in Minor wave 3, with a directional focus on the top in wave 3.

Analysis Details:

Wave 2 Completion: The analysis is looking for the completion of a three-wave corrective move in wave 2. This will set the stage for the continuation of the upward trend.

Minor Wave 3: Expecting Minor wave 3 to continue unfolding in a clear five-wave pattern. This is a characteristic of Elliott's motive wave structure, indicating a strong bullish trend.

Resistance Levels: The next significant resistance level is anticipated at TL8, approximately $80. This level will be crucial to watch as it could determine the next phase of the price movement.

NextEra-Energy-Inc-1...


NEE Elliott Wave Analysis Trading Lounge 4Hr Chart,

NextEra Energy Inc., (NEE) 4Hr Chart Analysis

NEE Elliott Wave Technical Analysis

Trend: Impulsive

Structure: Motive

Position: Wave (v) of {iii}

Direction: Upside in (v)

Overview:

The 4-hour chart provides a closer look at the ongoing impulsive trend. The structure remains motive, aligning with the larger daily trend analysis. The position is identified as wave (v) of {iii}, indicating that the bullish wave is in its final stages within this specific timeframe.

Analysis Details:

Wave (v) Development: The focus is on the upward movement into wave (v). This wave is critical as it completes the larger wave {iii}.

Volume Confirmation: The bullish move is supported by volume analysis, which confirms the strength of the upward trend.

Equality of Waves: The price has already surpassed the equality of wave {iii} vs. wave {i} at $75. This milestone is significant as it validates the strength of wave {iii}.

Key Fibonacci Level: The 1.618 Fibonacci extension stands at $84. This level is important for projecting the potential reach of wave (v) and serves as a significant resistance point.

Technical Analyst: Alessio Barretta

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NextEra-Energy-Inc-4...

Conclusion:

NextEra Energy Inc. (NEE) is currently exhibiting a strong impulsive trend as per the Elliott Wave analysis on both daily and 4-hour charts. In the daily chart, the completion of wave 2 will pave the way for further bullish movement in Minor wave 3, targeting the $80 resistance level. On the 4-hour chart, wave (v) of {iii} is in progress, with a crucial Fibonacci extension target at $84. Investors and traders should closely monitor these resistance levels and volume confirmations to gauge the continuation of the bullish trend.

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