Hello Traders and Investors, today I will take a look at Amazon.
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Explanation of my video analysis:
In 2020 Amazon stock created massive resistance roughly at the $180 level and started a major correction away from the resistance in 2022. As we are speaking Amazon stock is once again retesting this major resistance level and is therefore at a quite decisive inflection point. Either we will see a breakout or another rejection after which we could then see the overall continuation towards the upside.
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Keep your long term vision, Philip (BasicTrading)
Comment
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If Amazon stock doesn't reject the resistance now, a breakout is quite likely!
And then we could see a break and retest as mentioned in the analysis...
If you want me to keep you updated on Amazon stock, I really appreciate it you smash that "Like👍" button! Keep your long term vision.
elisanascar
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Earnings are coming out the 25th of this month. Won’t you think it will do a substantial jump up?
basictradingtv
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@elisanascar, Looking at the chart I don't think so - but if it does you can certainly look for long setups!
Kib76
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@basictradingtv, can you clarify what you mean about the chart not showing bullish move for the 25/04? I had understood that it is in a bullish setup already.
basictradingtv
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@Kib76, what exactly do you mean - can you share the timestamp of the analysis?