AMZN - 11.34% Profit Potential - Ascending Triangle
Updated
Ascending Triangle formed into an Uptrend Corridor and new support confirmed multiple times in the past 3 days.
Target price set at resistance line bounce.
- Historical Uptrend
- RSI and STOCH well above 50
- MACD well above Signal
Suggested Entry $3275.86
Suggested Stop Loss $3202.77
Target price $3647.41
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
Target price set at resistance line bounce.
- Historical Uptrend
- RSI and STOCH well above 50
- MACD well above Signal
Suggested Entry $3275.86
Suggested Stop Loss $3202.77
Target price $3647.41
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
Trade closed: target reached
4.16% profit
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