AlexandreNygal
Long

AMZN : Long trading idea

NASDAQ:AMZN   AMAZON COM INC
Amazon is in a fast upside trend since early February (+72% in less than 9 months). The stock is making new historical highs frequently. On that situation, we are looking for short term regress in order to get long. Here is exactly what is happening :

- Beginning of a bounce at a 38.2% Fibonacci retracement
- Matches with neutrality area on the RSI (bounce at 50 exactly)
If the bounce does happen during the next few days, a theorical target can be put at 900$ (100% projection of the previous upside wave)

So here is the long trading idea :
- Open long position @ current price (about 820$)
- Stop @ 800$
- Target @ 890$ (just below the theorical target to make sure to get executed)
- Eventually a intermediary target @ 850$ to close 1/2 of the position (still a good R/R at this price !)

This is not a highly probable successful trade but the R/R is good enough to compensate it.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out