Long

Amazon Breakout. Target: $3900

Updated

Greetings. I’m bullish on AMZN given the ascending triangle pattern forming on the daily chart. 0n 18 Aug, AMZN closed above its historical resistance around $3251 with strong bullish volume. Once it breaks its all-time-high of 3344.29, I anticipate a primary target of $3900. The MACD and RSI (not shown) are both bullish.

Happy Trading!

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AMZN just broke through resistance and made an ATH. If it closes above resistance at the close the day, I'm shooting for the new target 4K.

Trade closed manually

Took profit..and will wait for retrace to complete.

Trade active

BTO 10/16 AMZN $4000 C

Trade active

BTO 9/18 AMZN $3500 C

Note

New Target: $4000

Note

Don't be intimidated. The trend is still strong and bullish. Here's a 3D chart for the bigger picture:

Note

Update: 09 Sep 20

1. AMZN delivered a reversal candle on daily chart with volume confirmation.
2. AMZN payed respect to the quarterly average (50EMA marked in orange), bounced, and now is back on the glide path to the upside.
3. New short-range resistance marked, trend-line (green) redrawn for support. Target is still 4K.
4. Trend remains extremely bullish.

chiefwils0n

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