10 Year Chart Amazon (AMZN) Forecast/Analysis

Nov13amznchart

This is the long term forecast for Amazon (AMZN) on the 10 year chart.

Best case scenario on AMZN 10 year chart:  From 2003, where it was essentially down to $5-$10 to 405 was the first wave or Wave 1, the second wave or W2 correction was a cup and handle move from 405 down to 280, and the breakout above the 1.00 fibonacci resistance was the start of a Wave 3.  If AMZN has entered that Wave 3 to the full 1.618 move, the target would be as high as 880-900 long term.

Worst case scenario on AMZN 10 year chart: The corrective wave from 405 to 280 was a 382 Wave 4, and we’ve entered the 5th wave. Highest target would cap out at 600-650 on a 618 X w1 + W3 move which we’re seeing now.

Where I’m leaning:  Looks like a breakaway gap Wave 3 move, so I’m leaning 80% chance that it travels the full length of a Wave 3 to 1.618 in the 880-900 range.

10 Year Chart Amazon (AMZN) Forecast/Analysis on November 13, 2015 rated 5.0 of 5

About the author

CEO Ted Aguhob, Master Elliottician and Technical Analyst, Day And Swing Trader, Website Designer And Marketer, Artist, Producer and Musician has provided content to gemxwave.com, wavegenius.com and masterofcharts.com for over 14 years. The biggest breakthrough as a blogger came in 2013 when Wavegenius.com produced a net profit of over $177,000 and became one of the highest earning blogs in the entire country. Many of his biggest and most amazing calls appeared on major financial websites like Thestreet.com, Yahoo Finance and MSN Money, was a radio personality on Washington DC Radio, and has a following in the tens of thousands for many years. Ted is known for his charisma, vision, creativity and better yet.."genius."

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