AMAZON - Weak gains
Updated
Hi guys , i checked this stock and the upwards movement is structured as corrective waves.
Using fibs i see it reached 138.2% of preceding corrective wave therefore i believe it falls soon.
Watch the price action on the green lines , price may struggle to penetrate them in such a strong uptrend momentum.
If the black trendline breaks there will be more room on the downside.
Goodluck!
Using fibs i see it reached 138.2% of preceding corrective wave therefore i believe it falls soon.
Watch the price action on the green lines , price may struggle to penetrate them in such a strong uptrend momentum.
If the black trendline breaks there will be more room on the downside.
Goodluck!
Note
Note
I believe i missed this triangle formation considering only a B wave false breakout , however the divergences continue to be present and it is very likely that we are in the last move of this bullish cycle which suggests AMAZON to give up large gains on the highest degree that we have data.Goodluck!
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