Wave B of Corrective Wave A-B-C reached 50 percent retracement of Wave A. If not for the gap between 131 and 134, AMZN could have made 61.8 percent retracement. The gap is acting as a major resistance.
Wave C of Corrective Wave A-B-C has begun. It may go down to 114 where there is support from the peak of 2 Feb 2023. This is also 100 percent retracement of Wave A.
There is a likelihood that AMZN may go all the way to 100 (161.8 percent retracement of Wave A) if the market remains weak.
Motive Wave in details:
Corrective Wave in details:
Wave C of Corrective Wave A-B-C has begun. It may go down to 114 where there is support from the peak of 2 Feb 2023. This is also 100 percent retracement of Wave A.
There is a likelihood that AMZN may go all the way to 100 (161.8 percent retracement of Wave A) if the market remains weak.
Motive Wave in details:
Corrective Wave in details: