Amazon Breaks Higher as Bullish Elliott Wave Setup Targets 300

Amazon is moving higher from the lower side of the range and is now breaking the upper boundary near 230, which is a bullish development. That’s a decisive breakout, out of the corrective channel that confirms the bullish scenario and opens the door for further gains, confirmed by the latest earnings. In that case, traders could look for buying opportunities on wave four pullback that is now in progress. So, while price holds above the 220 level, keep an eye on 248 and 259, from where recovery can resume into a wave five towards the 280 – 300 area.

Highlights:
. Five-wave impulse into wave (C) of 3
. Support for wave 4 pullback is at 256-240

You can rewatch our livestream here – for full analysis where we covered Amazon as well https://youtu.be/H8jQC6Y6w0A