✅AMAZON LOCAL SHORT🔥
✅AMAZON will be retesting a resistance level soon
From where I am expecting a bearish reaction
With the price going down but we need
To wait for a reversal pattern to form
Before entering the trade, so that we
Get a higher success probability of the trade
SHORT🔥
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AMZN
AMZN WITH THE EXPANDING CHANNEL BREAKOUT FOR A REVERSALAMZN did a bullish breakout on the upper boundary where we have a chance of seeing a rally ahead back toward the target close to 120+ on the chart. If the price can follow up the bullish sentiment in the future we can expect a decent recovery from the following expanding channel identified.
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MELI Engulfing Green Bar Three Line Bearish886.75)MELI is like a hydrid between Shopify and Amazon on the South American markets
Fundarmentally its revenue compared to market cap is more favorable than either of those.
On the weekly chart, MELI double topped to its historical high in February 2021 and September 2021.
It then descended to a pivot bottom in July 22
The chart now shows a large green engulfing candle taking out most or all of the previous
5-15 candles or a so called " Big Ass Candle". This could represent the end of a consolidation period
and the beginning of the resumption of down-trending price action. Last August a similar
engulfing green weekly candle preceded a downtrend.
I have plotted the long-term anchored VWAP and also the 6-month volume profile.
I will take a short swin trade if price drops below the POC line of the volume profile. ( 886.75)
If however, price approaches or crosses the VWAP ( 1060) I will take a long trade.
Given the stock price a 6 month expiration call or put option may be the best trade
method allowing for the taking of multiple contracts and then scaling out type trade
management stratery.
ICT Trading AMZN 1/13/23Had some huge trades today for AMZN, and closed out the week really strong. Finding that true OTE, with good risk and good reward is huge. Able to catch a really nice play today, and overall ended the week on a positive note. Can't ask for anything better than that. Have a great weekend everyone!
AMAZON WITH ITS EXPANDING CHANNEL AND BULLISH BREAKOUT📈The following expending channel confirms a bullish breakout and here we can expect the price to do a bullish reversal with the confirmation spotted where we may revisit the levels close to 120 one more time.
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Three stocks to watch during the ‘January Effect’ January has been historically a good month for stocks as some investors reenter the market after selling some of their holdings at the end of the year. The bullishness at the start of each year is dubbed the ‘January Effect’.
On January 6, US stocks staged their first big rally of the year, with the Dow Jones Industrial Average closing 2.13%, the S&P 500 jumped 2.28% and the Nasdaq Composite gaining 2.6%.
It marked the best day for the Dow and the S&P 500 since November 30, 2022, and for the Nasdaq since December 29, 2022.
The rally could also be triggered by investors using their year-end cash bonuses to splurge into risky investments in January. With this in mind, we have rounded up three US stocks to watch in January:
Amazon.com
JP Morgan recently stated that Amazon remains its top internet pick, forecasting that the e-commerce giant will overcome macroeconomic headwinds by 2023. However, Amazon is no exception to the wave of layoffs in the tech space over the past year. The tech behemoth disclosed last week that is laying off 18,000 jobs, more than previously planned.
“Several teams are impacted; however, the majority of role eliminations are in our Amazon Stores and organizations,” Amazon CEO Andy Jassy said in a blog post on January 5.
But it is worth noting that Amazon remains the United States’ second-largest private employer next to Walmart. Amazon’s stock jumped 2.9% on Tuesday and 5.8% on Wednesday.
Tesla
Tesla recently applied to expand its Gigafactory in Texas with a $775.7 million investment, Reuters reported, citing filings with the Texas state department of licensing.
The investment plan comes despite Tesla missing delivery estimates in the fourth quarter of 2022. The company delivered 405,278 electric vehicles in the three months ended December 31, up 40% from a year earlier, but missing Elon Musk’s 50% growth target.
Tesla’s stock is also susceptible to its volatile CEO. The billionaire — who recently made it to the Guinness World Records for suffering the largest loss of personal fortune in history after shedding about $182 billion since November 2021 — has drawn attention from the federal government again after tweeting about disabling driver monitoring. The National Highway Traffic Safety Administration said the issue is now part of a wider investigation into accidents involving at least 14 Tesla vehicles while using the Autopilot driver assist system.
Tesla rose 3.7% on Wednesday after falling by 1.6% on Tuesday.
McDonald's
McDonald's Corp. (NYSE: MCD) is another stock to watch in January after the largest fast-food company in the world announced that it is planning a restructuring that would result in corporate job cuts. The company told employees in a memo that it will “evaluate roles and staffing levels… and there will be difficult discussions and decisions ahead.”
In the quarter ended September 30, 2022, McDonald’s net income fell 8% year over year to $1.98 billion, or $2.68 per share, as revenue slipped 5% to $5.87 billion.
MCD closed up 0.6% on Tuesday but closed flat on Wednesday.
AMZN LONG expectation Instrument: AMZN
Optimum technical indicator: OBV EMA 20
Current signal: LONG
Technical indicator win-rate: 47%
Days for backtesting: 2220
Timeframe for testing: 1D
Forecast day price: 89,8700
Enter point: 90,000
Take-profit: 94,000
Current stop-loss: 86,6913
Multiple for stop-loss strategy ATR(14): 1,1
Average trades per month with optimum technical indicator: 3
Average time for 1 trade with optimum technical indicator: 7
Average profit per 1 trade: 1,76%
Projected annual return w/o leverage: 30,2%
Technical analysis applicability for 3325 technical strategies: 97%
Technical analysis recommendations:
Long: 36%
Short: 59%
Neutral: 5%
Stable long-term profit for FOREX, CRYPTO, Equity based on backtesting optimization algorithm. Instant analysis of 3.2K technical strategies
Amazon Analysis 10.01.2023Hello Traders,
welcome to this free and educational analysis.
I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities.
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