Amazon Stock $AMZN Elliott Wave Forecast: Calling For A Further Decline
Hello fellow traders. As our members know, Amazon stock has completed 5 waves structure in the cycle from the 146.61. We were calling for a 3 waves bounce against the mentioned high after which we expected the price in stock to drop toward new lows. In previous blog on Amazon we shown how we called decline due to incomplete bearish sequences. In this technical article we’re going to take a quick look at the more recent Elliott Wave charts . We recommended members to avoid buying the stock and keep favoring the short side . Let’s take a look at the charts
The Swiss Market Index (SMI) is Switzerland’s blue-chip stock market index, which makes it the most followed in the country. It is made up of 20 of the largest and most liquid Swiss Performance Index (SPI) stocks. The SMI is not adjusted for dividends.
Direxion Daily 20+ Year Treasury Bull 3X is a bond exchange-traded fund that invests in US Treasury bonds with a maturity of more than 20 years. The ETF has a third leverage. Our team expects an accelerated reduction in inflation as early as the first half of 2023. The realisation of this forecast will have a positive impact on both stock and debt markets in anticipation of the Fed's move to a looser monetary policy.
The Goodyear Tire & Rubber Company (GT) manufactures and markets tyres for cars, trucks, buses, aircraft, motorbikes, earthmoving, mining and industrial machinery under the brands Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster and others. The company sells its products through a network of independent dealers, regional distributors and retailers throughout the world. The Goodyear Tire & Rubber Company was founded in 1898 and is headquartered in Akron, Ohio.
Russell 2000 stock index futures price online. Quotes on the chart online. Composition and characteristics of Russell 2000, examples of index ETFs following Russell 2000. Russell 2000 is a US stock index covering about 2,000 of the smallest Russell 3000 companies by capitalization, which includes most of the largest US issuers. Russell 2000 Index is called a barometer showing the state of small-cap companies in the US. The structure of the index is reviewed annually in order to exclude companies with increased capitalization from it. The index is calculated and maintained by FTSE Russell, a subsidiary of the London Stock Exchange (LSE).
Short Term Elliott Wave structure of USDJPY shows a 5 swing sequence from 10.21.2022 high. This suggests the decline can extend lower into a 7 swing double three structure. Rally to 10.21.2022 high at 151.94 ended wave (3). Pullback in wave (4) is in progress with subdivision as a double three Elliott Wave structure. Down from wave (3), wave ((a)) ended at 146.15, rally in wave ((b)) ended at 149.71, and wave ((c)) lower ended at 145.37. This completed wave W.
IBEX shows an incomplete bearish sequence from 6.14.2021 high favoring further downside against 5.30.2022 high (8992.7). Short term, Index is now correcting cycle from 5.30.2022 high in 3, 7, or 11 swing before the decline resumes. Down from 5.30.2022 high, wave (W) ended at 7191.57 as the 1 hour chart below shows. Wave (X) rally is currently in progress to correct cycle from 5.30.2022 high with internal subdivision as a double three Elliott Wave structure.
Short term Elliott Wave view on Nifty suggests the decline from 9.15.2022 high is unfolding as a 5 waves impulse Elliott Wave structure. Down from 9.15.2022 high, wave 1 ended at 17429.7 and rally in wave 2 ended at 17919.30. Index then resumes lower in wave 3 towards 16820.40, rally in wave 4 ended at 17026.05, and final leg lower wave 5 ended at 16747.70 which completed wave (1).
NextEra Energy Inc. ticker symbol: $NEE is an electric power and energy infrastructure company. The company was founded in 1984 and is headquartered in Juno Beach, FL. It operates through the following segments: FPL and NEER. The FPL segment engages primarily in the generation, transmission, distribution, and sale of electric energy in Florida.