I am watching AMZN for a potential day trade long. Waiting for my particular setup to validate, I have projected significant support between 315.12 and 319.90 area. This coincides with a 38.2% measurement of the broader price structure. Since my outlook is very short term, fundamentals are not something I consider for this type of trade. Since this trade has not...
Price broke out of the Ichimoku Cloud on the daily chart & cloud is turning green on the 16th adding to the bullish factor. I will most likely add another long position here.
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$AMZN made a strong bull bar yesterday, but 337.20 - 340.30 is challenging resistant. Breaking this will fly the chart to north, but bearish reversal formation will dive the price to 310/05 area.
#AMZN is nicely resisted at 340/35 area. this is good for Bearish. EW formation also nicely build. $300 area is nice support. NASDAQ have bearish candle signal, DOW meet physiological resistant @ 17,000. a lot of reason to go Bearish now.
Only breaking $340, I will go for short term bullish on AMZN
I am still expecting for down retracement to 305/10 area to give nice bull swing. But nice break at 340 bulls retracement will confirm for more bullish.
$AMZN is expected to go for bulls. New AMZN "FIRE" 3D mobile phones should be successor for the bulls trend. but, before the bulls run, after tested $340 resistant,I like to see Support testing no much deeper then $310 area within few days.
There are 2 really good trades that can play out here. A bearish Cypher (Blue) and a bullish crab (yellow). Currently, price action is in close range of the cypher. If price action can make it's way between $352. 40 at 1.27 extension and $362.18 at .786 retracement kill zone, there is a high probability chance for a reversal. If the cypher plays out and price...
Amazon still in correction mode (see previous related chart), below many MAs, kissing the lower bolinger band, and still within the narrow trend. Although on this way it covered 2 previous gaps that were unfilled, there are several resistance levels (blue lines) that it may bounce of. For now, lower lows, lower highs, and a possible Elliot wave action (either...
