NextEra Energy Inc.(NEE) Elliott Wave technical analysis [Video]
|NextEra Energy Inc., (NEE) Daily Chart
NEE Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Minor 3.
Direction: Top in 3.
Details: Looking for a three wave move in wave 2 to be soon completed, to then continue higher. Looking for Minor wave 3 to keep unfolding into a clear five wave move, the next level of resistance will be TL8 at 80$.
NEE Elliott Wave technical analysis – Daily chart
In our Elliott Wave analysis of NextEra Energy Inc. (NEE) on May 29, 2024, we observe an impulsive trend characterized by a motive structure. NEE is currently positioned in Minor wave 3, indicating a top in wave 3. We anticipate a three-wave move in wave 2 to be completed soon, after which the trend should continue higher. As Minor wave 3 unfolds into a clear five-wave move, traders should look for the next level of resistance at TL8 around $80. Monitoring this level can provide confirmation of the ongoing bullish trend.
NEE Elliott Wave technical analysis – Four-hour chart
On the 4-hour chart, NEE is following an impulsive trend within a motive structure, specifically in wave (v) of {iii}. The current analysis indicates that we are looking for further upside in wave (v), with volume confirming the bullish move. The equality of wave {iii} vs. {i} has already been surpassed at $75, with the 1.618 extension standing at $84. Traders should watch for potential resistance around this level, which could offer strategic opportunities for profit-taking or positioning for further upside.
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave (v) of {iii}.
Direction: Upside in (v).
Details: Looking for upside into wave (v), volume confirm the bullish move, and we have equality of {iii} vs. {i} already surpassed at 75$, 1.618 stands at 84$.
NextEra Energy Inc.(NEE) Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.