On March 12th I posted my first forecast for AMZN as it was going to touch the target of $381 on March 13th. I think the downtrend for this has come to an end for the following reasons: 1. In the 2 hour chart on the left, Fibonacci extension for wave C end at $312.33. Today’s low of $313.13 is just few cents short of touching this. 2. If we count the sub waves...
While an initial rise is expected, I would look to build a short around 356-360 - as Amazon receives multiple sectors of revenue under attack especially from Google/Microsoft on the Cloud sector, small measurable decrease revenue from Amazon Prime renewals from price increase, and possible product launch issues around the new set-top box if it is not well received...
REPUBLISHING LAST TRADE RECOMMENDATION CHART = UNTOUCHED And you can see that the drop in AMZN was very sharp and yet it held the gap support just over 330 and the trendlines I placed from the May-Sep lows last year projected forward (too far, but that's another story for another time) So, perhaps this is a rebound up to 350-360 before another leg down. Walmart...
Amazon has corrected last weeks, and has drawn a H&S pattern. If it closes like this, I consider the H&S pattern invalidated. The histogram has a bullish divergence, bear power decreased on the second corrective leg. MACD lines have a class B bullish divergence. Correction ended at a fib cluster. First target is the previous high, right shoulder, and 61.8% fib of...
AMAZON AMZN Rising wedge? Could it be? The rising wedge is a rare pattern that implies exhaustion of all potential buyers and an imminent continuation of the previous downtrend, which was a violent decline on the quarterly revenue report (not an earnings report, because earnings have yet to matter for Amazon). I am intrigued about this pattern setting up now...
BY touching 379.6 Strong resistance and 61% Fib including D Wave it seems we would have a bearish pattern , we can the weakness in the last 4 days candles with shooting star and Dojis indicating to go short from the current price toward 361 Support minimum with SL above 382 , 380 should hold with daily chart confirmation , the confirmation should come with...
A great stock to sell premium while holding a longer term position. Heading back to the 400's easily in my opinion.
Buy AMZN on break on gap….potential target is 407 range or higher and stop would be below breakout gap zone
AMZN has retraced the leg up back to the leg start, and should bounce to previous support lost just below 370. I'm looking to see momentum slow as we reach the leg start. This should provide a nice pop for longs.
The simpler the chart, the more it is followed by traders.
A Regression line attempts to describe and fit data distribution in a single line, and thus summarize and present the distribution of the data in a single line. Accordingly, for traders, price should readjust towards this line when a deviation is seen. AMAZON shares are trading 4-std away from its regression line, although i have a bearish bias, there is nor...
- Double doji pattern -50% -61% fibo resistance within the 85 points yellow box of the range historically resulting into -40 to -60 points pullback - Aiming for 350 dollars to start with under shadow of second doji + RSI crossing under 70 / probability to see more down 280 - 320 depending on next candles and capacity to hold support (significant double doji...
Volume profile concentrated at that area along with tons of OI for Jan monthly. Weekly 405 seems largest.
Major trendline in AMZN is about to be broken. First support is 388, then 379.
AMZN last minute debacle on December 24th should move the stock lower.