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Amazon.com Inc., Elliot Wave Analysis
10/13/2022 10:24 AMThe price is in a correction and may grow.
On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), and the formation of 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 has ended as the wave iv of 1. If the assumption is correct, the asset will grow to the area of 147.50–158.70. In this scenario, critical stop loss level is 101.45.
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