Search
Products
Community
Markets
News
Brokers
More
IN
Get started
Community
/
Ideas
/
AMZN a long reversal trade
Amazon.com
Long
AMZN a long reversal trade
By AwesomeAvani
Follow
Follow
Updated
Jul 27, 2023
4
1
1
Jul 27, 2023
AMZN on the 30 minute chart has descended from a double top / head and shoulders pattern
in early to mid July and is now set up in the lowest VWAP bands in oversold undervalued
territory. The RSI shows lines bounced from the lowest green line set at 20. the low time
frame blue- 5 minute line has crossed above the higher 60 minute black line time frame
and they are both above the 50 level demonstrating bullish momentum in the early reversal.
The mass index indicator crossed above the reversal zone and then down triggering the signal.
I will take a long trade on AMZN seeking to profit from this reversal with about 8% near term
upside. The trading plan's targets are in the text boxes on the chart.
Jul 27, 2023
Note
EDIT- the second TP is actually 133.5 while the TP3 is below the red lines.
Jul 27, 2023
Note
nasdaq.com/articles/why-amazon-amzn-is-a-buy-after-microsofts-msft-earnings
AMZN
amznlong
anchoredvwap
Mass Index
Moving Averages
Oscillators
reversal
reversaltrading
Volume
vwapbands
AwesomeAvani
Follow
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the
Terms of Use
.