Amazonlong
Amazon Curves and dips, keeps rising every dayAmazon has a cool trend line where in between the open and the middle of the day, there is a SHARP boost of 1-3%, then it just sits there all day near the same gains, before repeating this everyday. Earnings and expansion are jolly good, but the VIX is still way up, and equity fears still linger. According to bloomberg, there is a high chance that the market collapses before March again. Amazon is usually the one that looses 6% every day, cutting everything that happened in the last month, so BE CAREFUL, the last market crash isn't the same as the next. Good Luck Trading!
Bullish on Amazon after dipI think Amazon will see some nice gains in the near future, maybe so highs even. When we broke that $982 support line earlier we saw rises in excess of $1050. If history repeats itself we could see this again and then some. This is my forecast of future price action, will be interesting to see how it plays out :)
Where is AMAZON going? (How to Trade Amazon's Stock in August)Are you long on AMAZON? Maybe short (for some reason).
Either way- here is an ideal trade setup. All the levels are listed out on the chart for buyers and short sellers, and if we get the break (bearish play) with a confirmation on our MACD, I would consider entering short for the time being! Yes, shorting AMZN, would you believe it?
Or maybe our daily trend line doesn't break? Well I'm in after it holds again, buying the dips, and riding up to the take profit zones.
I will keep updating the chart as we move along- so make sure to follow either this chart or my profile for important updates.
$AMZN Bullish Entry on Fundamental MoveAmazon (AMZN) announced as a catalyst to the upside they'd be eliminating a non-profitable acquisition from 7 years ago. This gave the bulls a run due to the massive cash flows dumped back into acquiring and expansion of the company, and shows a shift in focus to producing hard earnings numbers down the road. This likely will drive price further up into the earnings announcement due to speculation of further growth in the company in the long run.
Granted, from a long term perspective, AMZN is one of our least favorite companies fundamentally due to the huge overvaluation it currently poses to earnings, but from a short term perspective, it's great for a short term Skip-strike butterfly or spread trade.
AMZN @ Daily @ Crucial Days until Christmas (year end 2016)AMZN lost -16,83% from it`s all-time by 847.21 (2016/10/16) until 710.10 (2016/11/14)
Meanwhile the 2nd main upside trend broked also - with a GAP! And this GAP is also the 1st target to get back on a bullish track. I am slightly optimistic, but i want a visual evidence - want to see the shares even to trade between 789.49 & 815.43. Buying before is also an oppurtunity, `cause the downside trend, which even breaked the 2nd main upside trend was left behind while last wednesday trading day ...
How ever, maybe i am too kosher !?
But i want to see the share even trading out of the downside trend - even between the GAP, if it has to be ?!
And from thi points of view, all in all, i am still pretty neutral - and would like go long much higher over next week, if even the broked downside trend holds ...
Possible short-term target for bears are, in my opinion :
736.70 2nd leg of the w-wave
710.00 1st leg of the w-wave
Possible short-term target for bulls are, in my opinion :
792.40 lower middle high of the w-wave & end of the extended downside trendline
843.09 start of the extended downside trendline
For mid-term trendfollower traders the all-time high (847.21) could be a support line to get long - even like the alll-time high from last year by 696.44 (2016/12/29) for bears to get mid-term short once again ...
Take care
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
Best regards
Aaron