AMZN Primary Impulse Wave Ⓐ Falls Below 2000

AMAZON shares show the formation of a zigzag consisting of sub-waves a-b-c of the cycle degree.

In the last section of the chart, we see a decrease in the price, which could indicate the beginning of the construction of a bearish correction b. This correction could take the simple form of a zigzag Ⓐ-Ⓑ-Ⓒ.

In the near future, the depreciation of prices is likely to continue in the final intermediate wave (5). This could end the primary impulse wave Ⓐ near 1986.43. At that level, wave (5) will be at 161.8% of previous impulse (3).

After the end of the impulse wave Ⓐ, a price correction in the primary wave Ⓑ is possible.


Let’s consider an alternative option in which the market has just completed the formation of the primary correction ④. On the current chart, the final part has taken the form of an intermediate triple zigzag (W)-(X)-(Y)-(X)-(Z).

If our assumption is confirmed, then the market will soon begin to move higher within the final wave ⑤ of the primary degree.

Most likely, shares will rise in price significantly above the high of 3772.99. This was by the intermediate intervening wave (X) and the minor intervening wave X.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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