NEE Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Flat.
Position: Minor wave 4.
Direction: Bottom in place at wave 4.
Details: We are looking for a minor wave 4 formation, with support identified around $72.
NEE Elliott Wave technical analysis – Daily chart
The daily chart indicates that Minor wave 4 has likely found support near the $72 mark. This level is critical as it suggests that the corrective phase might be concluding, paving the way for the next upward movement. Traders should observe this support level for confirmation of a bottom.
NEE Elliott Wave technical analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Minor wave 4
Direction: Bottom in place at wave 4.
Details: The 4-hour chart shows a potential triangle in wave 4, suggesting a bottom formation and possible resumption of upward movement.
NEE Elliott Wave technical analysis – Four-hour chart
The 4-hour chart offers a closer examination of the subdivision within wave 4, indicating a potential triangle formation. This pattern suggests that wave 4 may have reached its bottom and that an upward trend could already be starting. Traders should watch for a breakout from this triangle to confirm the continuation of the upward movement.
Welcome to our latest Elliott Wave analysis for NextEra Energy Inc. (NEE). This analysis provides a detailed overview of NEE's price trends using Elliott Wave Theory, helping traders identify potential trading opportunities based on current market behavior. We will explore insights from both the daily and 4-hour charts to provide a comprehensive perspective on NEE's price action.
NextEra Energy Inc. (NEE) Elliott Wave technical analysis [Video]
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