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AMZN Elliott Wave Analysis – Trading Lounge Daily Chart, Amazon.com Inc. (AMZN) – Daily Chart

AMZN Elliott Wave Technical Analysis

• Function: Trend
• Mode: Impulsive
• Structure: Motive
• Position: Wave v of (iii)
• Direction: Upward move in wave (iii)

Details:
We expect continued upward movement in Minuette wave (iii). After consolidating for about two weeks near the $200 level (TradingLevel2), AMZN is now targeting the upper boundary of MinorGroup1. This signals the next phase of the upward trend may be underway.

AMZN Elliott Wave Analysis – Trading Lounge 1H Chart, Amazon.com Inc. (AMZN) – 1H Chart

AMZN Elliott Wave Technical Analysis

• Function: Trend
• Mode: Impulsive
• Structure: Motive
• Position: Wave 3 of iii
• Direction: Upward momentum in micro wave 3

Details:
A sharp move is developing into submicro wave 3 of micro wave 3, reinforcing the current bullish trend. The price is gaining momentum, which supports the wave count and suggests further upside potential.

Overview:
This Elliott Wave analysis reviews Amazon.com Inc. (AMZN) using both daily and 1-hour charts to interpret current price action through the lens of Elliott Wave Theory. The larger trend shows strength through Minuette wave (iii), while short-term action confirms the count with accelerating movement in micro waves.

Technical Analyst: Alessio Barretta
Source: TradingLounge.com

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