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
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
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
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.