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Amazon.com Inc., Elliot Wave Analysis
7/7/2022 1:49 PMThe price may grow.
On the daily chart, the third wave of the higher level (3) formed, and a downward correction developed as the fourth wave (4). Now, the formation of the fifth wave (5) has started, within which the first entry wave of the lower level i of 1 of (5) has formed, a local correction has ended as the wave ii of 1, and the development of the wave iii of 1 has started. If the assumption is correct, the price of the asset will grow to the levels of 171.15–188.15. In this scenario, critical stop loss level is 102.20.
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