Will NextEra Energy (NEE) Continue Bullish Trend or Correcting Lower?
NextEra Energy, Inc., (NEE) is an American Energy company through its subsidiaries generates, transmits, distributes & sells electric power to retail & wholesale customers in North America. The company generates electricity, through wind, solar, nuclear, natural gas & other clean energy. It is based in June Beach, Florida, comes under Utility sector & trades as “NEE” ticker at NYSE.
In daily, it favors upside from October-2023 low & confirms bullish sequence, when break above $93.73 high. Currently, it favors upside in ((5)) to finish I & soon will starts correcting in II in 3, 7 or 11 swings pullback.
NEE – Elliott Wave Latest Weekly View:
NEE – Elliott Wave Latest Weekly View:
In Monthly sequence, it ended ((I)) at $93.73 high in December-2021, since its inception. It corrected lower in ((II)) as double correction, which ended at $47.15 low in October-2023 low. Within ((II)), it placed (w) at $67.22 low, (x) at 76.67 high as triangle structure & (y) at $47.15 low.
Above ((II)) low, it favors upside in I of (I) of ((III)) & need to break above $93.73 high to confirm the bullish sequence. Above $47.15 low, it placed ((1)) of I at $64.59 high as diagonal, ((2)) at $53.95 low, ((3)) at $80.47 high & ((4)) at $68.97 low. Currently, it favors upside in ((5)) started from June-2024 low & expect small upside to finish I while high comes with momentum divergence. Later, it should correct in II in 3, 7 or 11 swings against October-2023 low before resume higher. If it extends higher & erase the momentum divergence, then it will be nesting in (I). We like to buy the pullback in 3, 7 or 11 swings, once it confirms bullish sequence. Until it breaks above December-2021 high, it can remain choppy or do larger double correction in ((II)), if breaks below $47.15 low.
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Source:https://elliottwave-forecast.com/stock-market/nextera-nee-continue-bullish-trend-correcting-lower/
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