Amazon is seeing increasing volume and on a positive note it closed above wave one at $114.5 on Wednesday. Volume is growing, which is another positive sign, according to market strategist Ramón Bermejo. Wave 3 breaks above the high of wave 1.
On a first target you can restore a 5.88% to $125.08, targeting a double bottom pattern.
You can then retrieve one 12.65%to $133.10 and then gapped at $136.41 to the close on September 12, 2022, which would be a rise 15.5% short term.
So considering we did it Wave 1, wave 2 and that we are in wave 3, This movement towards these goals is easily recognizable considering that we are in this wave 3, says the expert.
We can also count down the five previous waves until they hit the bottom.