AMZN, FSLR, NFLX, PLCN, ROKU updates 06/06

AMZN: Counts best as being in minor-3 of intermediate-v using the weekly chart. Ideally minor-3 tags the 161.80% extension at ~$1761 and then we’ll see a minor-4 retrace to the 100% extension at ~$1629 followed by a minor-5 of intermediate-v of major-3 of Primary-III to ~$1842. This counts follows well with where I see the NDX/NAS currently as well.

AMZN WEEKLY

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FLSR: fell out of bed the past few days as supposedly China -the largest solar panel producer in the world- cut many of its subsidies (having worked myself over 10yrs in the energy field, I know that wind and solar are only sustainable because of government subsidies as they’ve still no competitive price edge in a free-market compared to nuclear or fossil fueled…). That aside, I can count nice five waves up off the 2017 low to the $82 price high and now -and so far- three waves down. Either this concludes wave II/B, or we’ll get a bounce to the (red) 76.4% extension (right around the 200d SMA) for wave iv of a, and than a 5th wave (v) down to the 176.4% extension (ideally) to complete all of a. But, for now, the downside is limited if not over as price reached the 138.2% extension; typical for a c-wave or 3rd wave (iii). In addition, price is within the ideal II/B retrace zone of 50-61.80%. With price below the 200d SMA, I’d wait for a close above it before considering going long.

FLSR daily

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NFLX: Short term it looks like a larger ending diagonal 5th wave (minor-5 of intermediate-v) of major-3 is forming. I’ve re-assessed my Elliot Wave count considering the almost parabolic advance since the start of this year. It could therefore well be that price is not in major-3 of Primary-V but in major-3 of Primary-III (see “alt” counts). Although both counts shown anticipate a major-4 wave, the alternate count has NFLX after this coming correction, move still higher for a major-5, primary-IV and V. Time will tell, which of the two options is ultimately correct. For now, lets focus on the completion of this diagonal targeting around $380… longs are therefore forewarned and exit strategies should be put into place… If you don’t have one, contact me and I can help.

nflx weekly.png

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PCLN: Looks and counts best as being in minor-3 of intermediate-v of major-5 of Primary-V. A break above $2200 will confirm and I’ll be looking for 2340-2425. A break below 2000 means the recent high could have been all of it… KISS.

PCLN Weekly

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ROKU: Still a bit uncertain as there’s not yet enough price-data available, but looks very possible that Primary-II is complete and Primary-III is now underway. $40 remains first key to unlock higher prices. Once could say a nice cup/handle (purple lines) could be forming that when triggered targets $48 (purple arrows). Hence, I wanted to give you an early head’s up.

ROKU DAILY.png