Amazon.comShort
Amzn
Tagged trendline resistance here at 230... overbought like all the other big tech..
Wont go into every overbought indicator because they are all lighting up.
Stock price hit 8% above 20sma... anything over 6 % is due for a rubberband snap back
I think in the next 2 weeks we get a pullback to 212 gap close and 20sma. I expect a bounce at 20sma.. then a grind back to trendline resistance. I highlighted how amazon can jus grind higher until major market correction or Bezo sells
I dont think we target trendline support until after earnings Q1
Smaller time frame..
Lets talk about entries.
If they give you 230 again that would be an entry or wait for a drop below 224
Wont go into every overbought indicator because they are all lighting up.
Stock price hit 8% above 20sma... anything over 6 % is due for a rubberband snap back
I think in the next 2 weeks we get a pullback to 212 gap close and 20sma. I expect a bounce at 20sma.. then a grind back to trendline resistance. I highlighted how amazon can jus grind higher until major market correction or Bezo sells
I dont think we target trendline support until after earnings Q1
Smaller time frame..
Lets talk about entries.
If they give you 230 again that would be an entry or wait for a drop below 224
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