AMZN TRADE IDEAS 2/13-2/17
AMZN consolidating on the primary trend line and the wedge of the secondary trend line.
A break above the daily 100ma, at 99.75, I'll look to take it to 101.18, 103.63.
Between the 200ma, 100ma, and 50ma, AMZN has rejected the primary trend line and broke below a key level at 103.63 and closed below both the 200 and 100ma. The next Moving Average support level down is the 50ma, sitting at 93.
A break below 95.75 and I profit target 94, 92.75. A break below the daily 50ma and I will have the demand zone of 85 in sights!
A break above the daily 100ma, at 99.75, I'll look to take it to 101.18, 103.63.
Between the 200ma, 100ma, and 50ma, AMZN has rejected the primary trend line and broke below a key level at 103.63 and closed below both the 200 and 100ma. The next Moving Average support level down is the 50ma, sitting at 93.
A break below 95.75 and I profit target 94, 92.75. A break below the daily 50ma and I will have the demand zone of 85 in sights!
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