Amazon prints a fresh ATH and making HL , Trading within a Nice channel that has been respected since July 2020.....3 time we have rejected a breakout opportunity which was anticipated .
I see Amazon breaking ATH over the course of the coming months when earnings are announced 29 April ...approximately 77 days time .... Amazon has smashed the past 3 estimates...
Bullish divergence on the Daily on the MACD and the RSI - green line
We can see how the price consolidates inside in what it seems to be an ascending triangle - blue line. Formations like this tend to break upwards.
Regardless the direction of the breakout , we currently trade in the low are of the consolidation and just bounced off the demand trend-line...
