Amazon ready to print some dollars for the bulls
NASDAQ:AMZN has crossed over and retested the $147 resistance turned support price.
We are in an uptrend and have a strong bullish momentum.
Position Set - 2 ITM contracts XETR:AMZ 3/4/2024 Call $145
In this chart we have observe a RISING WEDGE and we expectation it will go down after a certain level which is defined in the chart.
No Divergence Spotted
The price is rising towards a multi-swing high resistance zone which also aligns with the 100% fib projection
I think a rejection from this level could lead the price fall towards the support level which is also a pullback support.
✅AMAZON is going up now
But a strong resistance level is ahead at 188.09
Thus I am expecting a pullback
And a move down towards the target at 167.44
SHORT🔥
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Hello,Traders!
AMAZON is trading in an
Uptrend but is locally
Oversold and as the
Stock will soon retest
A horizontal resistance of 188.31$
It is likely that we will see
A local bearish correction
Sell!
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A sure bet. 100%. Refinance your house. Sell your business. Put it all into AMZN and double yous money in a couple years as Amazon's economic moat continues to widen.
If it doesn't happen forget I said anything.
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Hello Traders,
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NASDAQ:AMZN
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