Amazon (AMZN), Nasdaq (NDAQ) - October 27

Amazon.com, Inc.NASDAQ

Description

⋅ Oct 27, 2020 7:25 AM

Hello?
Dear traders, nice to meet you.

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It's time to see if you can sideways along the uptrend line (1) from 3104.0-3294.62 between October 23 and November 20.

If you go down the base line, you can touch 3104.0, so make sure you get support at 3104.0.

Changes in the MS-Signal indicator and the position of the candle should be checked.

You need to make sure that the gap falls and starts below the base line.

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(NASDAQ (NDAQ) 1D chart)

The gap interval is 129.12-127.76.

Support rose at the uptrend line (2).

We need to see if we can get support at the uptrend line (2) and at 127.03.

If you decline from the uptrend line (2), you are likely to touch the uptrend line (1).

In order to change the trend, it must rise above 128.87 points.

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** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.

Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop-Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment

(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.)

Comments

columbiaaveart

⋅ Oct 27, 2020 8:33 PM

Hi. So I see ultimately there's resistance around $3100. Still learning for the last year -- how did you get to $3104, since there is support/resistance all around that $3100 point? Thanks :D

readCrypto

⋅ Oct 27, 2020 10:28 PM

@columbiaaveart, Thank you for leaving the article.
It cannot be affected by the NDAQ index.
The resistance of the downtrend line (3)-(4) on the NDAQ chart is expected to suffer the same resistance from AMZN.
If we support the uptrend line (3) on the NDAQ index chart and the uptrend line (1) on the AMZN chart together and climb along the trend line, I think we can gain the strength to break through resistance.