Hello traders i hope you had a good trading week. Let's see the Amazon stock that is currently sitting on tempting levels for a buy..
TECHNICAL OBSERVATIONS 1.WE ARE ENTERING A GREAT SUPPORT ZONE THAT WE HAD A LOT OF GOOD RALLIES IN THE PAST. 2.WE HAVE THE 200EMA WITH ASCENDING SLOPE WHICH IS FAVORING LONGS AND ACTS AS A GREAT SUPPORT. 3.WE HAVE THE STOCHASTICS AT OVERSOLD AREA READY FOR ANOTHER RALLY. 4.WE ALSO NOTICED THE BULLISH DIVERGENCE AT THE RSI INDICATOR.
POSSIBLE LONG TRADE ENTRY PRICE AT 955$ STOP LOSS AT 920$ FIRST TARGET T1 AT 1020$ SECOND TARGET T2 AT 1075$ THANKS FOR SUPPORT! KEEP FOLLOWING FOR MORE PROFITS!