Many are placing bets that Amazon.com will not touch a new all-time high. Bets are not for me, instead I’m looking for the best risk-to-income ratio. The indicator is presently inadmissible for bearish
trading and to trade in a bullish
manner it is necessary to wait for the stock to reach the 2009 support level
(around USD 320) or to set a new high. It’s a scary thing to buy at the breakout level, but the fear is reduced by the moderate size of a position and the clear understanding of the target. In our case, the target is around USD 480 (the Fibonacci retracement
level of 161.8%).
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