There is a massive a8 monthly squeeze developing in AMZN. From the chart the TTM uses two length settings: default 20 and user-defined length of 12. The monthly chart also displays a purple darvas channel which implies the next move (up/down) will be directional with greater than expected momentum. AMZN target price of $4027 or higher $4684 (fib 1.618 extension ) is expected for month of January or February. Timing the exact month may be challenging, so it is recommended to position in either january monthlies (aggresive), feb monthlies (less aggressive) or march monthlies (conservative). Next month January 2022 is seasonal strong for small cap companies; however, some large caps may also participate. At this time or writing, amzn is trading slightly under the 21 day moving average. Historically whenever amzn is positioned under the 21 day ma, a greater than expected move of 3 to 5% can be assumed.
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Come join our discord community!
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Website: tosoption.com
Discord: discord.gg/b2s56tmVgC
Free Checklist: subscribepage.io/gap_reversal_checklist
Youtube: youtube.com/@TOS_OPTION
Website: tosoption.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.