Much like the Nasdaq, Amazon stock is in for a rough few years. While the stock has only known the way up in recent years, shareholders must currently have strong nerves. It is possible that the 61.8 retracement at $72 can be defended, but the stock will probably fall at least until then. The ideal target, however, is at 55.80$.
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It is quite possible that the turquoise (W) was a black Z, then it could also continue upwards, but as long as the price does not significantly exceed today's high, the drawn decline remains my primary expectation