This is an update to my August 8th sell publication.
A sell recommendation...Appears to be a common theme among retailers...
As you can see there was a breakdown through the white median line on October 28th. I believe we are now in the middle of the "C" wave with a downward acceleration about to commence. My price target is in the mid 50's area... TBD.
Weekly view here
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Market activity has prompted me to re-evaluate my AMZN opinion. I am bullish on the general market for the INTERMEDIATE term. I think It's going to continue to be a traders market with a bias to the upside for the next 6-9 months. This update is my current wave count with re-drawn long term price channels.
Thank you for your contribution! I completely agree with your bearish bias for AMZN. Very detailed analysis you have there! I intend to sell and take profit at 69.43, where the -27.2% Fibonacci expansion line is. Please see my analysis at: