10 Year Chart Amazon (AMZN) Forecast/Analysis
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.
