(Technical analysis of the Amazon chart)
AMZN
*AMAZON STOCK currently is in a downwards diagonal channel and has breakout potential but RSI(10) is showing 73 hence it may be too overbought and may return back down to the bottom of the channel or the strong support or may potentially reach the support level and bounce back u to resistance of 3182 and we may experience a HUGE breakout due to the collision of the diagonal channels support and the horizontal channels support meaning if there is a breakthrough it may signal that it has high potential to reach TARGET (PRICE 3539)*
Strong support = 2745
Support = 2956
Resistance = 3182
Strong resistance = 3327
TARGET SELLING PRICE = (safe) 3140, (only if breaks out) 3327, (be careful only will hit if huge breakout) 3539
<Please provide feedback on my chart i would greatly appreciate it and will look forward to any criticism which i really would like because
i want to keep on learning>
THIS IS NOT FINANCIAL ADVICE DO YOUR OWN RESEARCH ALL SPECULATION
AMZN
*AMAZON STOCK currently is in a downwards diagonal channel and has breakout potential but RSI(10) is showing 73 hence it may be too overbought and may return back down to the bottom of the channel or the strong support or may potentially reach the support level and bounce back u to resistance of 3182 and we may experience a HUGE breakout due to the collision of the diagonal channels support and the horizontal channels support meaning if there is a breakthrough it may signal that it has high potential to reach TARGET (PRICE 3539)*
Strong support = 2745
Support = 2956
Resistance = 3182
Strong resistance = 3327
TARGET SELLING PRICE = (safe) 3140, (only if breaks out) 3327, (be careful only will hit if huge breakout) 3539
<Please provide feedback on my chart i would greatly appreciate it and will look forward to any criticism which i really would like because
i want to keep on learning>
THIS IS NOT FINANCIAL ADVICE DO YOUR OWN RESEARCH ALL SPECULATION
