NextEra Energy (NEE) is currently showing an impulsive trend on its daily chart, progressing through Wave 5 of (1). The stock is expected to move higher within this fifth wave, indicating the completion of an impulsive structure in Wave (1). A post-triangle thrust is visible, suggesting that Wave 5 is unfolding after a triangle in Wave 4, leading to a sharp move higher. The next target on the upside is the key psychological level at $100, which also aligns with TradingLevel 100 (TL100). Traders should monitor price action as it approaches this level for potential profit-taking or signs of resistance.
Moving on to the 1-hour chart, NextEra Energy is currently in Wave (iv) of {iii}, which seems to be in its final stages or nearing completion. The stock is finding support around the equality level of Wave (iii) vs. (i), a common retracement level for Wave (iv). Once this correction ends, an upward continuation into Wave (v) of {iii} is expected, signaling further bullish momentum. A key confirmation level to watch is $85. Trading above this level would signal the end of the corrective phase and the beginning of the next impulsive move higher, targeting further gains in Wave {iii}.
This Elliott Wave analysis of NextEra Energy provides valuable insights for traders looking for potential trading opportunities. By breaking down the daily and 1-hour charts, we get a clear view of the stock’s position within the Elliott Wave structure. With a strong impulsive trend and potential upside targets, NextEra Energy presents opportunities for traders to capitalize on the bullish momentum.
In conclusion, NextEra Energy is currently in an impulsive trend on both the daily and 1-hour charts, with Wave 5 of (1) on the daily chart and Wave (iv) of {iii} on the 1-hour chart. The stock is expected to move higher in both time frames, targeting key levels such as $100 and $85. Traders should closely monitor price action and key levels for potential profit-taking or signs of a trend reversal. Overall, NextEra Energy presents attractive trading opportunities for traders looking to capitalize on the bullish momentum within the Elliott Wave structure.
