AMAZON big moves are about to emerge soon. Get ready.

#AMAZON #Nasdaq #Daily #Tommy
- Here is AMZN Daily linear chart. Currently recommending daily traders to keep an eye on the blue long-term upward trendline.
- I have marked it with the red box. Obviously if this area gets broken below, on the other word, if daily candle closes below this very trendline, correction phase can be expected.
- In a shorter term, watch out for the ascending triangle (painted blue) with constant linear decrease on volume over time. If the top of the triangle (3440) gets broken above, \decent amount of bullish momentum can emerge more.
- If Amazon succeeds on making a higher high, the adequate and probable resistance areas that I am considering are 3430~3530 and 3630~3730, which are valid until August 27th.
- My bearish scenario that is when the price breaks the blue uptrendline below, 2690~2790, 2390~2490, and 2090~2190 are being regarded as the major supports.
- Last but not least, daily RSI should also be observed cautiously. If the daily RSI breaks the RSI supports around 48~53 below with the price also breaking the blue trendline together, I would personally raise my probability on the starting signal on either correction or bearish phase.