amazon....to the moon without seeing the ocean trenches ??
I'm a crypto guy and love serving the coinvestor army. And as digital recon, I look not only in crypto, also into the stock market. I'm also one of the guys looking into numbers like all kind of debt stats, financial markets worldwide and so on. In talk with some IT workmates, I started to look into amazon with our simple coinvestor support/resistance RSI strategy and with my lil knowlegde in charting, I find some quiet interesting hits I wanna share.
RSI has nothing special, from fundamental view, people renting AWS servers and buying stuff on marketplace like crazy, so amazon to the moon ?? Properly...yes, why not, amazon is like a t-rex in every business they decide to expand to.
But there is a low high, which is harder to overcome day by day and Christmas is pretty far out yet ;-)
So I added the good old fibo retracement to see possible pullbacks and discovered a unclosed gap near the 61% fibo rt. 2008 was bad even for amazon, they give a lot of loans due there creditcards as well, I know thats peanuts, but a major recession will also affect amazon for a bit....not for long but we as coinvestors always know a bargain when we see one and to make a snap should now be in our nature after we got battlehardend nerves accumulating coin due cost averaging back in 2018.
So amazon is a strong buy for the doomsday list, the stock list the #coinvestorarmy monitors stock, because when there's blood in the streets, we already know what stock to buy on what price, cause we did our homework today and not if the stupid masses and mainstream media comes in place.
So keep a watch on the 31% and 62% retracement and this stock could also be used as global market indicator.
RSI has nothing special, from fundamental view, people renting AWS servers and buying stuff on marketplace like crazy, so amazon to the moon ?? Properly...yes, why not, amazon is like a t-rex in every business they decide to expand to.
But there is a low high, which is harder to overcome day by day and Christmas is pretty far out yet ;-)
So I added the good old fibo retracement to see possible pullbacks and discovered a unclosed gap near the 61% fibo rt. 2008 was bad even for amazon, they give a lot of loans due there creditcards as well, I know thats peanuts, but a major recession will also affect amazon for a bit....not for long but we as coinvestors always know a bargain when we see one and to make a snap should now be in our nature after we got battlehardend nerves accumulating coin due cost averaging back in 2018.
So amazon is a strong buy for the doomsday list, the stock list the #coinvestorarmy monitors stock, because when there's blood in the streets, we already know what stock to buy on what price, cause we did our homework today and not if the stupid masses and mainstream media comes in place.
So keep a watch on the 31% and 62% retracement and this stock could also be used as global market indicator.
guess I better stay with crypto