AMZN; bounced off lower range with a potential inverted H&S

AMZN has been in a range since last July. The doji/ hammer on 5 Mar confirmed the bounce up, and now is shaping a potential right shoulder on an inverted H&S.

Would like to see it correct to $3310-3330 for a better entry.

Target profit 1 is in the mid of the range with clear resistance at $3220 area.

Target profit 2 is the top of the range at $3400 area.

Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.

If you have any symbols that you'd like me to analyze, feel free to drop me a comment.

Thanks!

Note

Let's see if AMZN will enter our buying zone tomorrow

Order cancelled

Unfortunately it didn't enter our buying zone.

But if you're willing to hold for Target profit 2, then this might still be a good trade

Trade active

Price entered buy zone yesterday. Let's see if it will continue higher today

Note

If price continue to head lower tomorrow, then i'll look to exit

Note

Target profit 1 hit!

Trade closed: target reached

Good rally!
Target profit 2 hit!

leslieyimsm

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leslieyimsm

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