NetWorthFocused

AMZN Pullback Then Breakout

Long
NASDAQ:AMZN   Amazon.com, Inc
AMZN has finally broken out of the volatility contraction triangle it's been in for what seems like forever! And with some volume as well over the past couple of days.

So now what?

Well, today printed an evening star candle which previously in early November was rejected at this exact level. Maybe the circumstances are different this time with the triangle break, but I'm thinking a brief pullback before breaking resistance at this 3300 level. I see a bounce at the 3215 (looks like recent resistance to find support) off the triangle to overcome it.

Let me know your thoughts!!!

Comments

Happy new year! thanks for your time charting AMZN,w hat strike do you suggest?
+1 Reply
NetWorthFocused pridefulRider62005
@pridefulRider62005 happy new year to you as well!! Looking at the options chain, all eyes seem to be at the 3300c strike. Remember to wait on confirmation though.
Reply
Great call!
+1 Reply
@Jonas99, Thanks Jonas99!!! Let's see if it can find and hold that 3215!!
Reply
agreed
+1 Reply
@prozoo, thanks prozoo!!
Reply
Well constructed chart, the pullback is in the play now. I’ll wait and see how price will react at 3215
+1 Reply
@Abeyek, thanks abeyek!! I appreciate the feedback. I'm waiting for it myself.
Reply
beautiful one! I totally agree here.
+1 Reply
Boatsnhoes TheSignalyst
@TheSignalyst, you also said you agree with a short prediction... are you just spamming comments?
+1 Reply
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