Amazon is moving lower as expected, continuing its bearish trajectory after a clear breakdown below the corrective channel. The decline has been impulsive, with price now trading well below the 227 level, reinforcing the presence of strong selling pressure.
From an Elliott Wave perspective, the move can still be interpreted as an extended wave C. However, the structure appears incomplete, as five distinct subwaves have yet to fully develop. This suggests that the current decline may extend further before reaching a meaningful bottom.
Looking ahead, key retracement levels come into focus. The 0.618 Fibonacci retracement near 193 and the 0.786 level around 178 represent potential downside targets. These zones could gradually form a more attractive support area where a rebound may develop.
That said, bearish momentum remains firmly in control. In the short term, traders should be prepared for continued downside within subwave “v” of (C) before any significant recovery takes place.
Highlights:
• Wave C breakdown below corrective channel confirms weakness
• 193–178 area can be attractive for a rebound
From an Elliott Wave perspective, the move can still be interpreted as an extended wave C. However, the structure appears incomplete, as five distinct subwaves have yet to fully develop. This suggests that the current decline may extend further before reaching a meaningful bottom.
Looking ahead, key retracement levels come into focus. The 0.618 Fibonacci retracement near 193 and the 0.786 level around 178 represent potential downside targets. These zones could gradually form a more attractive support area where a rebound may develop.
That said, bearish momentum remains firmly in control. In the short term, traders should be prepared for continued downside within subwave “v” of (C) before any significant recovery takes place.
Highlights:
• Wave C breakdown below corrective channel confirms weakness
• 193–178 area can be attractive for a rebound
Join the community for one week, full access. Its free >> @ wavetraders.com/elliott-wave-plans/
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
相关出版物
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
Join the community for one week, full access. Its free >> @ wavetraders.com/elliott-wave-plans/
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
相关出版物
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。