Wingfield
Short

AMZN: mid term bear market preparation

NASDAQ:AMZN   AMAZON COM INC
The RSI indicates the potential for a bottom attempt. This TA matches the supp/res shown as 1339.7 is our pivot point in the overview. Below the 1339.7 support we would expect quick movement towards 856.2 and in the worse case parabolic movement we should expect a bottom around 695.06.

Comments

For a company that's AWS business arm would be worth half the market cap as is - a drop to 856 then 695 is impractical.

For those levels above it would have to be a full-on recession in my opinion.

I think these dips are a great buying opportunity as the tail-winds are numerous in $AMZN's case (Please DYOR before investing)

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