Currently, Amazon is in the buying zone, but if the red average indicated by the blue arrow is broken and we enter the green zone, the market will be in the selling phase.
Namaste!
Amazon has corrected enough to look attractive to value investors. VI basically mean they will look for:
1. Low P/E ratio,
2. An long term up-trending stock (Amazon is that),
3. Fear in the markets, Etc.
Investors like Warren Buffet doesn't buy when the market is at all time high and people think it will keep going up in a straight line.
He and other...
Amazon is anticipated to be in wave 5 of primary degree, nearing its conclusion. A potential decline from the current market price to the range of 115 - 100 is expected.
Amazon is near the end of a major rally cycle. We're currently in wave 5 of cycle degree, within wave 5 of primary degree. Anticipating a decline to a range of 90 - 70 once wave 5 of cycle degree is complete.
Since past 13 year amzn is inside parallel channel. It has to importantly break out above HKEX:114 to stay above and touch HKEX:136
however this may be bit slow
After breaking the long-term bullish line, the Amazon symbol is pullback from below to the same trend line. The resistance ahead is 127.43. And also the important support of 90.82
AMAZON.COM Daily Candle Analysis
daily candle looks that there is a good buying around 95 stop loss 90 for the target of 103 and 108
--------------------------------------------
in a long term chart its trading in a Down Trend so around 108 according to price action
we can take short position
Buy Amazon if dips to 78
Stoploss below 74.90 on closing basis.
Positive divergence is clearly visible on 60 period RSI. Bullish wedge is also forming.
Disc : Not an investment advise to buy or sell. Do your research
