Saad Ullah
⬤ Amazon shares are showing fresh upward momentum as the stock builds a three-wave recovery from recent lows. The corrective structure currently developing suggests AMZN could climb toward the $237–$242 zone before the next major move takes shape. Technical analysis shows this bounce is unfolding after a decline from the $259.05 invalidation level, with the pattern still pointing to additional upside potential.
⬤ The technical setup reveals a completed five-wave decline marked as wave (A), now followed by an A-B-C corrective sequence. The initial rebound started from the $216–$220 area, and the stock is currently working through the B-wave pullback. The projected C-wave advance is expected to push AMZN into the $237–$242 resistance zone. The analysis emphasizes that the broader pattern still supports higher prices before any meaningful reversal might develop.
⬤ Looking at the bigger picture, Amazon is moving through a complex corrective cycle with multiple nested wave structures. The $233 level is acting as an interim checkpoint, while the key invalidation point sits at $259.05. As long as AMZN holds above recent swing lows, this three-wave recovery remains on track and continues to guide near-term price expectations.
⬤ This recovery phase matters because Amazon is approaching a technically important zone that could shape market sentiment and drive short-term volatility. A move into the $237–$242 area would establish the next critical decision point, helping determine whether the stock extends its upward momentum or shifts into a deeper consolidation period.
Saad Ullah
