3rd large H&S
forming for AMZN
. The 3rd Head and Shoulders
seems to be an ugly one that will set the stage for AMZN
in the coming months. AMZN
DOES NOT HAVE SUPPORT IN THE $1600S! So with that being said we are still on a thin line until we reach $1700. We will be safe once we reach $1700 but with slow economic growth this year this support will only be temporary. I'm a strong believer that this stock market is fake and has been manipulated by President Trump from the beginning of January. Evidence will slowly unfold of his corrupt politics in the coming months before his term. With that aside, Amazon's last 2 Head and Shoulders
started to their downturns at $1690 so we could in theory we be on our way to a correction for this stock BUT that's unlikely with all the news/media that's propelling the stock market currently so we won't hit 1690 mark again until next month or until the following months coming. When that price action starts coming again get ready for AMZN
to PLUNGE. I can see AMZN
going from the $1700 to $1350 now when this plunge happens. Once we hit $1350 and get our double bottom
we can expect a bounce from that OR we break $1350 support and start HEADING TOWARDS TO $1150.. AMZN
has no support in the $1200s so we can expect to hit $1100s if we lose out support at $1350. My fellow investors please be careful this Volatility
is here to stay for this year but I only see opportunity from here.
My main goal is to find the bottom of the next recession that will be coming in the near months or couple of years and make the most from the opportunity I can from it. I will find the bottom of this next recession, Christian Del.