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Amazon.com Inc., Elliot Wave Analysis
9/1/2022 11:16 AMGrowth is possible.
On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4) and the fifth wave (5) started. Now, the first entry wave of the lower level 1 of (5) is developing, within which the wave iii of 1 has formed, and a local correction is developing as the wave iv of 1. If the assumption is correct, after the end of the correction, the price of the asset will grow to the area of 171.15–188.15. In this scenario, critical stop loss level is 101.45.
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