NEE Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective.
Structure: Flat.
Position: Wave (C) of 2.
Direction: Bottoming in Wave (C).
Details: Intermediate wave (C) appears to be near completion within a broader Primary wave 2 structure. This setup shows a three-wave corrective pattern, indicating the potential for a reversal.
NEE Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective.
Structure: Flat.
Position: Wave 4 of (C).
Direction: Downward continuation into Wave 5.
Details: The current chart suggests wave 4 of (C) is concluding. One more leg down is expected to complete wave 5 of (C). The upward movement from the April 9th low reflects a three-wave correction, reinforcing the wave 4 count.
This Elliott Wave analysis highlights the current technical scenario for NextEra Energy Inc. (NEE), using both daily and intraday perspectives. The charts reveal a continuing corrective pattern, which may soon transition into a bullish move following the completion of the current wave sequence.
NEE’s daily chart presents a flat correction nearing the end of Primary wave 2. The unfolding of Intermediate wave (C) suggests that the market is approaching a potential reversal zone. This wave structure supports the expectation of a return to the primary bullish trend once the correction finalizes.
The 1H chart aligns with the broader analysis, showing wave 4 of (C) nearing its conclusion. A further downward move is anticipated in wave 5 of (C). The internal subdivision confirms the corrective nature of this segment, making this a key area to watch for a potential pivot.
Technical analyst: Alessio Barretta.
