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 Analysis Trading Lounge Daily Chart
NextEra Energy Inc., (NEE) Daily Chart Analysis
FUNCTION: Counter Trend
MODE: Corrective
STRUCTURE: Flat
POSITION: Minor 4
DIRECTION: Wave {b} of 4
DETAILS: Looking for further continuation in wave 4, to develop around $72, as we already hit equality of 3 vs. 1.
NEE Elliott Wave Technical Analysis
In our Elliott Wave analysis of NextEra Energy, Inc. (NEE), we observe a counter-trend corrective pattern characterized by a Flat structure. NEE is currently positioned in Minor wave 4, specifically in wave {b} of 4. The recent price action indicates that NEE is developing wave {b} around the $72 level, as it has already reached the equality of waves 3 vs. 1. This suggests that the corrective wave 4 is continuing to unfold, and traders should be aware of further developments in this wave. The $72 level is crucial as it provides a potential pivot point for wave 4's structure.
NEE Elliott Wave Analysis Trading Lounge 4Hr Chart
NextEra Energy Inc., (NEE) 4Hr Chart Analysis
FUNCTION: Counter Trend
MODE: Corrective
STRUCTURE: Flat
POSITION: Wave {b} of 4
DIRECTION: Wave (c) of {b}
DETAILS: Looking for one more leg higher in wave (c), to then fall back down into Minute wave {c} and continue the correction.
NEE Elliott Wave Technical Analysis
On the 4-hour chart, NEE follows a counter-trend corrective mode within a Flat structure, specifically in wave {b} of 4. The current analysis indicates that NEE is completing wave (c) of {b}, which is expected to provide one more leg higher before the correction resumes. Following this anticipated upward move in wave (c), NEE will likely fall back into Minute wave {c} and continue the corrective process in wave 4. Traders should watch for signs of this upward leg completion and subsequent bearish continuation to confirm the ongoing corrective phase.
Technical Analyst: Alessio Barretta
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