Going Long on a Pullback
Amazon is clearly a dominant company led by a very long term thinking CEO. Not only are they destroying e-commerce, but they also own a very large majority of the cloud computing industry. As a computer engineer as my main job, I can clearly see which direction that Amazon is headed in terms of artificial intelligence and know Jeff, he's going to execute for the long term.
The company being strong, I will want to get in on a price worth paying for. I will wait for a pull back into the weekly demand zone and enter in on the daily demand zone.
My trade will specifically be entering a long position at 1710, putting my stop loss at 1642.
The company being strong, I will want to get in on a price worth paying for. I will wait for a pull back into the weekly demand zone and enter in on the daily demand zone.
My trade will specifically be entering a long position at 1710, putting my stop loss at 1642.
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