Amazon - Give me another -10%...

Aug 8

AMZN did not create a sustainable all time high yet and might head lower short term.



Click image above to see detailed analysis

Short term counter-trend moves are always very welcome because they allow you to enter trading opportunities within a major higher timeframe trend. After Amazon actually broke above the previous all time high but immediately closed back below, we knew that this was a false breakout. If we get a short term move lower, we might get another textbook trading opportunity.

Levels to watch: $140

Keep your long term vision,
Philip - BasicTrading

Aug 22

Trade active

Trading update on Amazon (AMZN):



Click chart above to see the detailed analysis👆🏻

Amazon is about to close the month of August with a very long rejection wick towards the downside which is always an indication for buying strength. If this strength continues, it is quite likely that we will see a breakout and new all time highs.

Levels to watch: $190

Keep your long term vision,
Philip (BasicTrading)

Aug 30

Trade active

Trading update on Amazon (AMZN):



Click chart above to see the detailed analysis👆🏻

Unfortunately Amazon was not able to close the month of August with a green candle but instead we "only" saw an intra-month reversal of about +17%. Next steps are clearly new all time highs, a bullish breakout above resistance and a strong rally.

Levels to watch: $190, $550

Keep your long term vision,
Philip (BasicTrading)