Amazon Stock (AMZN) Continues the Bearish Elliott Wave Sequence Lower
Short term Elliott wave View in Amazon (ticker; AMZN) suggests the decline from 12.1.2022 peak is in progress as a 5 waves impulse. Down from 12.1.2022 peak, wave ((i)) ended at 94.92 and wave ((ii)) rally ended at 96.45. Stock resumed lower in wave ((iii)) towards 87.90 and wave ((iv)) correction ended at 88.88. Final leg wave ((v)) ended at 87.45 which completed wave 1 as the 45 minutes chart below shows. From there, wave 2 corrective rally ended at 96.26. Internal subdivision of wave 2 took the form of a zigzag Elliott Wave structure. Up from wave 1, wave ((a)) ended at 91.39, wave ((b)) ended at 87.87, and wave ((c)) ended at 96.26.