Amazon Inc. (AMZN) has been trading within a 2-year Channel Up and since the May 05 2026 High, it has started its new Bearish Leg. The late June rebound on its 1W MA50 (blue trend-line) gave way to three straight green 1W candles but this may technically be the end of this dead-cat-bounce.
All three Bearish Legs of this pattern declined by at least -24.12% and the current one has many similarities with the February - March 2025 correction, which marginally breached below its 1W MA100 (green trend-line) and the 0.786 Fibonacci retracement level, before bottoming.
Given also the huge 1W RSI Lower Highs Bearish Divergence since February 2024 (against the Higher Highs of the Channel Up), such a 'smaller' correction is further justified.
Expect to see at least $210 (just below the 0.786 Fib) towards the end of the year.
---
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
---
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
All three Bearish Legs of this pattern declined by at least -24.12% and the current one has many similarities with the February - March 2025 correction, which marginally breached below its 1W MA100 (green trend-line) and the 0.786 Fibonacci retracement level, before bottoming.
Given also the huge 1W RSI Lower Highs Bearish Divergence since February 2024 (against the Higher Highs of the Channel Up), such a 'smaller' correction is further justified.
Expect to see at least $210 (just below the 0.786 Fib) towards the end of the year.
---
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
---
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.