Automatic wave scan: as of 6 Nov 2026, the automatic daily count for Amazon is Wave 4 bounce in a downtrend (possible diagonal) with a bearish bias. The count stays valid while price holds 287.20.
Current Amazon wave count
Automatic wave scan Updated daily from the latest daily close (4 Nov 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: price is in wave 4, a pause of a five wave decline that began at 287.20 on 3 Aug 2026. Next levels to watch are 274.68 and 280.04. The count fails on a daily close above 287.20.
Key levels
| Type | Levels |
|---|---|
| Resistance | 287.20 · 274.75 |
| Support | 229.36 · 265.34 |
| Invalidation | 287.20 |
What is Amazon?
Amazon was founded by Jeff Bezos in 1994 and is based in Seattle, Washington. It started as an online bookstore and grew into retail, cloud, advertising, streaming and logistics.
Amazon Web Services launched in 2006 and is the largest cloud provider. Advertising has also become a large, high margin business.
What moves the Amazon price?
- AWS growth: Cloud growth and margins drive profits.
- Consumer spending: Retail sales follow the economy.
- Advertising: Fast growing ad revenue supports margins.
- Cost control: Logistics and staff costs affect profits.
- AI investment: Data center spending is rising quickly.
How Amazon moves in Elliott Wave terms
Amazon's long term chart shows strong impulses and deep corrections, such as the 2021 to 2022 decline of more than 50 percent. Its recovery since then has shown impulsive structure.
AMZN often moves more than the Nasdaq 100 in both directions.
Tips for counting Amazon waves
Focus on AWS numbers in earnings reports. Quarterly earnings reports often start or end a wave. Price gaps after results can skip over levels, so place stops with gaps in mind.
Amazon key facts
Amazon Elliott Wave FAQ
Where does Amazon make most of its profit?
Amazon Web Services, its cloud business, produces a large share of operating profit.
Who founded Amazon?
Jeff Bezos founded Amazon in 1994.
Is Amazon in the Dow?
Yes. Amazon joined the Dow Jones Industrial Average in February 2024.
Sources and further reading
- Amazon filings (10-K and 10-Q) (U.S. Securities and Exchange Commission)
- Amazon Investor Relations (Amazon.com Inc.)
- Amazon (company) (Wikipedia)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
