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NextEra Energy ($NEE): Deeper pullback underway

NextEra Energy Inc. ticker symbol: $NEE is a power and energy infrastructure company. The company was founded in 1984 and is based in Juno Beach, Florida. It operates through the following segments: FPL and NEER. The FPL segment is mainly engaged in the generation, transmission, distribution and sale of electric power in Florida. The NEER segment generates electricity from clean and renewable sources, including wind and solar power. It provides comprehensive energy and capacity services and engages in electricity and gas marketing and trading. It is involved in natural gas production and pipeline infrastructure development and owns a retail electricity supplier. Below we will look at the Elliott wave view for NEE:

NextEra Energy Elliott Wave Weekly Chart

Above is NextEra Energy’s weekly period Elliott wave chart. In which, the stock corrects the cycle from historic lows. So far the decline from the December 31, 2021 high is taking place as a double three Elliott Wave pattern where the first leg ended in the wave (w) at 67.22 $. From there, a bounce to $91.35 ended the wave (x) and started the leg (y) lower. Now, as long as it remains below $91.35, expect the stock to extend lower towards the blue box area of ​​$64.87-$48.44. From there, buyers should appear looking for the next higher cycle or should at least make a big 3-wave bounce.