Amazon - Two trading setups!

Apr 9

Hello Traders and Investors, today I will take a look at Amazon.

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Explanation of my video analysis:

In 2020 Amazon stock created massive resistance roughly at the $180 level and started a major correction away from the resistance in 2022. As we are speaking Amazon stock is once again retesting this major resistance level and is therefore at a quite decisive inflection point. Either we will see a breakout or another rejection after which we could then see the overall continuation towards the upside.

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Keep your long term vision,
Philip (BasicTrading)

May 15

Note

If Amazon stock doesn't reject the resistance now, a breakout is quite likely!

And then we could see a break and retest as mentioned in the analysis...

May 22

Note

Keep in mind: the more often AMZN retests the resistance, the higher the chance that we will break it.

It is simply a rising channel formation - soooo profitable!

Jun 5

Note

Tricky situation at the moment - patience is paying off!

As you know: the more often we have a retest, the higher the chance of a break: