2024/12/05
Daily 4XSetUps - Price Action Under $200 In AMZN Decided For Now
“throughout 2024, the $200 was something of a resistance zone!
will this hold during 2025? even serve as a support zone ?”
The European Commission officially closed its long-standing investigation into alleged tax advantages for Amazon in Luxembourg at the end of last week. This decision follows a ruling by the European Court of Justice, which refuted the Commission's original assessment in 2017. At the time, the authority accused Luxembourg of giving the online trading giant unjustified advantages through special tax regulations. After a thorough examination, the Commission now had to admit that there was insufficient evidence of selective preferential treatment. In addition,
AMZN continually generates new headlines, both through its economic successes and through innovative product launches. The company attracts a lot of attention with new product offerings, especially in the run-up to Black Friday and/or the Christmas season that is now underway. These strategic steps contribute to the positive perception of the company among investors and customers alike. Which is why we stick with our long AMZN 4XSetUp. Because both the market mood and the economic conditions currently seem to be right forAMZN . Business is going well, and the general market mood on Wall Street, not least after Trump was re-elected, and/or even the AMZN founder Jeff Bezos, did not speak out against Donald J. Trump in advance. Trump said he would be the future US president. And from a chart perspective there are hardly any obstacles, as the price action shows a fundamentally constructive bullish light.
“Principles are fundamental truths that serve as the foundations for behavior that gets you what you want out of life. They can be applied again and again in similar situations to help you achieve your goals.”
Ray Dalio
$220.55 : 2024/12/05 - last price action
$215.90 : 2024/11/14 - Temporary Price Action High
$201.20 : 2024/07/08 - 1st Big Annual Year 2024 High
$197.02 : 2024/11/01 - Intraday Low After QR Release
$195.75 : 2024/11/21 - Temporary Price Action Low
$190.60 : 2024/10/30 - Intraday Low Before QR Release
AMZN stock was able to open with a bullish GAP on the following November 1, 2024 after the last quarterly results published on October 30, 2024. So, from a POV (Point of View) of the technical analysis, we have a solid price action base zone between $190.60 and/or even $197.02. What makes me fundamentally bullish for the year 2025 - should the AMZN share be sent down by traders and/or investors (i.e. even below $197.02). Because in retrospect we can argue that the price action is not only above the psychologically important mark of $200, but that the market, i.e. the majority of (un)involved financial market participants, created the breakout at the end of 2024, from just over $200. What bulls hopefully confirm in 2025. And that's what this long AMZN 4XSetUp is all about. And that regardless of whether we will reach our price target next week and/or even in December this year, 2024.--------------------------------------------------
$230.00 : 2025/06/30 - Target Price
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$220.55 : 2025/12/05 - last price action
$208.18 : 2025/11/08 - Entry Price
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$175.00 : 2025/06/30 - Stop Price
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Have a good time
- regardless of the price action!
Aaron
“daily 4XSetUps - …” is pure information material!
By trying to give you even more information about some trading capabilities to trade and/or invest in some securities. This post is not a call to action - it only provides information. You decide (not) to decide. Even if I am writing daily 4XSetUps with concrete entry prices, target prices and/or also stop prices! It is like it is - like I said; You decide to respond to the analysis I just formulated to buy, to sell, or to do nothing! More information about my approaches to investing in something specific or just trading it, or even just describing it, can be found in the daily "Another 48h - DXY ...! Analysis Post. Where I try to track the price action in
DXY every day so that we learn something new daily.
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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.