It seems we are in the middle of a wave 3 in the minor period ???
Not sure about a 'bullish kicker', I only know some stuff about Elliott waves and VSA.
I'm not into drawing animals and cypher patterns etc... All I try to do is count waves and at the moment, what it looks to me is that Amazon is going to go to the sky, see my reply to Shero for the reasons why I've counted in this way.
If you go long on this, for the next 12 months, I wouldn't be surprised if you make a ton of $$$, can't go wrong with Amazon, they are really kicking some butt in the market.
Have a great day and thanks for looking at my chart. Cheers !
1) where I've got my wave 5, is actually where MACD shows a wave 3 so there is a slight error, however if anything, we should see a correction now, which would take it down to a 'max' of around 678.00, however that has already happened (I've got my wave 2 intermediate period on it).
2) You can see in the VOLUME, there is also clear indication that there is significant decline in interest to sell the stock (VSA).
3) EMAs 8 period and 34 period have not crossed, infact in my opinion, clearly show uptrend direction as well as MACD has not crossed 0 point even during the correction.
4) Recently Amazon have released so many new products, one of them is about the hit the market in a big way, globally, and therefore this in itself will drive the stock price higher.
Additionally, a friend of mine had mentioned 'smart money' which is also something of substance when looking at the charts, sometimes the price is driven down (either selling or profit taking at certain points) only to be bought at a cheaper price before the stock sky rockets... In my opinion you can't go wrong with Amazon stock for at least the next 3 to 12 months.
I'm not a fundamentals person, in my opinion thats for the CNBCs and Bloombergs in order to drive an agenda of a particular group etc... I just 'try' to look at waves (I'm not an expert either, still practicing), but from what I can see, its going to go long for a significant amount of time. This is only my idea, I could be wrong, time will definitely prove me wrong or right, but in the mean time this is what I see anyway.
Thanks for the comment and for looking at my chart, I appreciate it. Cheers !