Elliott Wave Analysis for NextEra Energy Inc. (NEE)
This Elliott Wave analysis for NextEra Energy Inc. (NEE) offers a detailed examination of the stock's price movements using the Elliott Wave Theory. The analysis aims to assist traders in identifying potential trading opportunities based on the current market behavior. Insights are derived from both daily and 4-hour charts to provide a comprehensive understanding of NEE's price action.
NEE Elliott Wave Analysis - Daily Chart
NextEra Energy Inc. (NEE) Daily Chart Analysis
NEE Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Minor wave 4
Direction: Bottom at wave 4.
Details: The analysis suggests a minor wave 4 formation with support around $72.
NEE Elliott Wave Technical Analysis – Daily Chart
The daily chart analysis indicates that Minor wave 4 has likely established support near the $72 level. This level is crucial as it may signify the end of the corrective phase, potentially leading to the next upward movement. Traders should closely monitor this support level to confirm the bottom's formation.
NEE Elliott Wave Analysis - 4-Hour Chart
NextEra Energy Inc. (NEE) 4H Chart Analysis
NEE Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Minor wave 4
Direction: Bottom at wave 4.
Details: The 4-hour chart suggests a possible triangle formation in wave 4, indicating a bottoming process and the potential start of an upward movement.
NEE Technical Analysis – 4H Chart
The 4-hour chart provides a more detailed view of the wave 4 subdivision, indicating a potential triangle formation. This pattern suggests that wave 4 might have reached its bottom, and an upward trend could be emerging. Traders should look for a breakout from this triangle to confirm the continuation of the upward movement.
Technical Analyst: Alessio Barretta
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See Previous: Eaton Corp PLC (ETN) Elliott Wave Technical Analysis
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