#WaveAnalysis #AMZN
• Amazon reversed from support area
• Likely to rise to resistance level 3100.00
Amazon recently reversed up from the support area located between the key support level 2700.000 (previous monthly low from January) and the lower daily Bollinger Band.
The upward reversal from this support area created the daily Long-legged Doji, which stopped the previous intermediate impulse wave (1).
Given the clear bullish divergence on the daily RSI indicator – Amazon can be expected to rise further toward the next resistance level 3100.00.
• Amazon reversed from support area
• Likely to rise to resistance level 3100.00
Amazon recently reversed up from the support area located between the key support level 2700.000 (previous monthly low from January) and the lower daily Bollinger Band.
The upward reversal from this support area created the daily Long-legged Doji, which stopped the previous intermediate impulse wave (1).
Given the clear bullish divergence on the daily RSI indicator – Amazon can be expected to rise further toward the next resistance level 3100.00.
#WaveAnalysis #AMZN
• Amazon rising inside the ABC correction 4
• Likely to rise to resistance level 150.00
Amazon continues to rise inside the sharp upward correction 4, which previously broke the key resistance level 125.00, intersecting with the 38.2% Fibonacci correction of the downward impulse from March.
The breakout of the resistance level 125.00, accelerated the active minor impulse wave (c) of the ABC correction 4 from the middle of June.
Amazon can be expected to rise further toward the next round resistance level 150.00 (target for the completion of the active ABC correction 4).
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• Amazon rising inside the ABC correction 4
• Likely to rise to resistance level 150.00
Amazon continues to rise inside the sharp upward correction 4, which previously broke the key resistance level 125.00, intersecting with the 38.2% Fibonacci correction of the downward impulse from March.
The breakout of the resistance level 125.00, accelerated the active minor impulse wave (c) of the ABC correction 4 from the middle of June.
Amazon can be expected to rise further toward the next round resistance level 150.00 (target for the completion of the active ABC correction 4).
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#WaveAnalysis #AMZN
Amazon broke resistance level 127.30
Likely to rise to resistance level 135.00
Amazon continues to rise steadily after the price broke above the key resistance level 127.30, which has been reversing the price from the start of this month.
The breakout of the resistance level 127.30 accelerated active short-term impulse wave (iii) – which belongs to the higher order impulse waves 5 and (C).
Given the clear daily uptrend, Amazon can be expected to rise further toward the next resistance level 135.00 (target for the completion of the active impulse wave (iii)).
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Amazon broke resistance level 127.30
Likely to rise to resistance level 135.00
Amazon continues to rise steadily after the price broke above the key resistance level 127.30, which has been reversing the price from the start of this month.
The breakout of the resistance level 127.30 accelerated active short-term impulse wave (iii) – which belongs to the higher order impulse waves 5 and (C).
Given the clear daily uptrend, Amazon can be expected to rise further toward the next resistance level 135.00 (target for the completion of the active impulse wave (iii)).
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#WaveAnalysis #AMZN
Amazon reversed from support level 132.50
Likely to rise to resistance level 141.30
Amazon previously reversed up from the key support level 132.50 (former resistance from July) intersecting with the support trendline of the narrow up channel from March.
The support level 132.50 was further strengthened by the support trendline of the daily up channel from March and by the 61.8% Fibonacci correction of the upward impulse from July.
Given the clear daily uptrend, Amazon can be expected to rise further toward the next resistance level 141.30 (top of the previous correction 2).
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Amazon reversed from support level 132.50
Likely to rise to resistance level 141.30
Amazon previously reversed up from the key support level 132.50 (former resistance from July) intersecting with the support trendline of the narrow up channel from March.
The support level 132.50 was further strengthened by the support trendline of the daily up channel from March and by the 61.8% Fibonacci correction of the upward impulse from July.
Given the clear daily uptrend, Amazon can be expected to rise further toward the next resistance level 141.30 (top of the previous correction 2).
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#WaveAnalysis #AMZN
Amazon reversed from resistance level 190.00
Likely to fall to support level 180.00
Amazon recently reversed down from the resistance level 190.00 (previous monthly high from April), strengthened by the upper daily Bollinger Band.
The downward reversal from the resistance level 190.00 started the active ABC correction ii.
Amazon can be expected to fall further to the next support level 180.00, target for the completion of the active wave ii.
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Amazon reversed from resistance level 190.00
Likely to fall to support level 180.00
Amazon recently reversed down from the resistance level 190.00 (previous monthly high from April), strengthened by the upper daily Bollinger Band.
The downward reversal from the resistance level 190.00 started the active ABC correction ii.
Amazon can be expected to fall further to the next support level 180.00, target for the completion of the active wave ii.
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#WaveAnalysis #AMZN
Amazon reversed from key resistance level 188.50
Likely to fall to support level 181.00
Amazon recently reversed down from the key resistance level 188.50 (which has been steadily reversing the price from April, stopping earlier waves (3) and (5)).
The resistance level 188.50 was strengthened by the upper daily Bollinger Band – increasing the likelihood of further correction from the current levels.
Given the strength of resistance level 188.50 and the overbought daily Stochastic indicator, Amazon can be expected to correct down further to the next support level 181.00 (low of the previous correction (2)).
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Amazon reversed from key resistance level 188.50
Likely to fall to support level 181.00
Amazon recently reversed down from the key resistance level 188.50 (which has been steadily reversing the price from April, stopping earlier waves (3) and (5)).
The resistance level 188.50 was strengthened by the upper daily Bollinger Band – increasing the likelihood of further correction from the current levels.
Given the strength of resistance level 188.50 and the overbought daily Stochastic indicator, Amazon can be expected to correct down further to the next support level 181.00 (low of the previous correction (2)).
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👍2
#WaveAnalysis #AMZN
Amazon reversed from support level 192.15;
Likely to rise to the resistance level 200.00.
Amazon recently reversed up from the key support level 192.15, the former monthly high from May, acting as the support after it was broken in June.
The support level 192.15 was strengthened by the 20-day moving average and by the 38.2% Fibonacci correction of the sharp upward impulse 1 from last month.
Given the clear daily uptrend, Amazon can be expected to rise further to the next round resistance level 200.00 (which stopped the previous impulse wave 1).
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Amazon reversed from support level 192.15;
Likely to rise to the resistance level 200.00.
Amazon recently reversed up from the key support level 192.15, the former monthly high from May, acting as the support after it was broken in June.
The support level 192.15 was strengthened by the 20-day moving average and by the 38.2% Fibonacci correction of the sharp upward impulse 1 from last month.
Given the clear daily uptrend, Amazon can be expected to rise further to the next round resistance level 200.00 (which stopped the previous impulse wave 1).
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❤1👍1
#WaveAnalysis #AMZN
▫️Amazon broke resistance area;
▫️ Likely to rise to resistance level 190.00.
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▫️Amazon broke resistance area;
▫️ Likely to rise to resistance level 190.00.
📣Trade responsibly with fxpro.com
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Forex - Amazon Wave Analysis 11 September 2024 | Technical analysis
- Amazon broke resistance area - Likely to rise to resistance level 190.00 Amazon recently broke the resistance area located between the re...