AMZN solid earnings high volume for 10 months Cup and Handle
AMZN has risen lately above the lip of the cup of the pattern on this 4H chart. The pattern
suggests $ 50 USD upside or 35% beyond present price. The chart shows the buying coming
in once price reached a rounded bottom an began an uptrend. Earnings beats have been
significant especially compared with the miss a year ago. AMZN is like the massive river with
branches feeding the volume of the river's depth and breadth downstream. Its dominance
and resilience is impeccable like others in the titans of tech. Price is now in the ascending
bullish continuation portion of the handle. I see this as a setup for a long swing stock trade
as AMZN heads into the next earnings. Another long play is call options in five weeks at
$ 156 or six months expiration at $176 strike which is the head and shoulders pattern of 2021.
suggests $ 50 USD upside or 35% beyond present price. The chart shows the buying coming
in once price reached a rounded bottom an began an uptrend. Earnings beats have been
significant especially compared with the miss a year ago. AMZN is like the massive river with
branches feeding the volume of the river's depth and breadth downstream. Its dominance
and resilience is impeccable like others in the titans of tech. Price is now in the ascending
bullish continuation portion of the handle. I see this as a setup for a long swing stock trade
as AMZN heads into the next earnings. Another long play is call options in five weeks at
$ 156 or six months expiration at $176 strike which is the head and shoulders pattern of 2021.
Trade active:
AMZN closed up like the general market. Watching for bullish momentum next week.
Trade active:
Slow-moving megacap doing what it does. Holding.