Amazon short to medium term
On long term Amazon, 7 weeks, 21 days and 13 days time frames was so oversold like previously in late 2001 so I expect a pretty strong reaction to the upside.
Retraced 56.94 from top so a valid and strong correction. On short term a possible 1-2 is baking and the reaction on the upside looks weak giving me the idea that maybe is just a corrective B wave before going in a C to complete the 1-2 wave. If it;s going beyond wave 1 peak then maybe we are already in wave 3 but the way it moves on daily doesn't gives me hope.
If 87.xx support level is strong we can see a wave 3@ at least 142.xx.
If your newsfeed is doom and gloom then maybe the bottom is already in.
Retraced 56.94 from top so a valid and strong correction. On short term a possible 1-2 is baking and the reaction on the upside looks weak giving me the idea that maybe is just a corrective B wave before going in a C to complete the 1-2 wave. If it;s going beyond wave 1 peak then maybe we are already in wave 3 but the way it moves on daily doesn't gives me hope.
If 87.xx support level is strong we can see a wave 3@ at least 142.xx.
If your newsfeed is doom and gloom then maybe the bottom is already in.
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