InvestingScope
Long

Amazon: Best time to buy for $3300.

NASDAQ:AMZN   AMAZON COM INC
Amazon completed last month a decline of more than -30% unsettling investors. But is such a % loss in price that uncommon?

A more careful look into AMZN's price action (log scale) since 2009 and after the markets stabilized from the 2008 crisis, shows that the stock had pull backs of around -30% on another 4 occasions. Each time the stock grew by a minimum of +134.50% in the monthly candles that followed until the new -30% decline occurred. The quickest of the growth periods that followed was conducted in 14 months.

If we apply those parameters on today's price action we can assume that November's 1,420.00 was the bottom and by January 2020 (14 months) Amazon will complete a +134% rise near 3,330.

Technically the 1M technical indicators are in favor of a sustainable uptrend from now on as an RSI of 67.035 and Highs/Lows of 85.6885 are characteristics of an uptrend channel while the neutral RSI = 52.949 and Highs/Lows = 0.0000 on top of a bullish MACD = 0.950 on 1W, characteristics of a support.




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Nice analysis ! In addition to the analysis, I have noticed that a small correction has been made in between 3-6 months for about -15%, which is a half of the big correction of -30%. Accordingly, I assume the price will make a small correction in 3-6 months for -15% before reaching the $3300 level.
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@yokoy0301, Thank you. Yes of course the projection includes a pattern of a smaller -15% correction before reaching 3300. Our study want to emphasize the bigger picture for long term investors that want to find a safe buy entry.
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You must be joking.
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really valuable post. thanks sir
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great idea
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Tabassum dailyFXTrade
@dailyFXTrade, yes right
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thanks to share
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@kabbo12 yes
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Tabassum kabbo12
@kabbo12, right
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