AMZN breakout theory 2021
In the current year, Amazon has repeated this pattern twice, and is currently setting up for a three-peat. Around 19 February, Amazon slid approximately $400 until 09 March when it consolidated for exactly 16 trading days before proceeding to run approximately $600 over the course of 22 trading days. Again, on 30 April, we saw another roughly $400 drop. Then again, 16 trading days of consolidation before running approximately $600 for another 22 trading days. Now, just a couple weeks ago, beginning July 27 we saw for a third time this year an almost $400 slide, and we have been in consolidation for the past 10 days. If the pattern does repeat itself, we should see another $600 run after 6 more trading days. By my math, that puts our launch date at 24 August with a total flight time of 22 trading days, arriving at our destination on 24 September. Please enjoy your flight!
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