Amazon initially continued its upward trajectory, extending the rise until January 2. There was a brief pullback of about 4% afterward, but it was quickly recovered. Consequently, price again reached the levels observed before the holiday season. In line with our primary scenario, we expect price to turn downward to carve out the final low of the beige wave IV. Ideally, this bottom should be formed above the support at $160.50. Subsequently, wave V should unfold and continue the overall upward trend. However, if Amazon breaks directly above the resistance at $259, it could suggest that the low of wave alt.IV in beige has already been established. The probability of this alternative scenario is 33%.
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📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.