Amazon in a long level, up to $1850 then $2000?Amazon drops into a key support level where it rotated a few times right at $1745 now its showing signs of strength and volume is starting to increase. It's been in a strong range for 4 months now and it looks like its about to break above. As long as retail numbers don't disappoint in the next few months we'll hit the first target at $1845-1850 and then into $1900. We need to see price break above the year to date POC and hold it as support. Volume on the move higher is really important as well.
Disclaimer: This idea is for educational purposes only, this does not constitute trading or investment advice. TRADEPRO Academy is not responsible for any market activity.
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AMAZON - MARKET PSYCHOLOGY - BITCOIN 2017 RESEMBLANCE - CM101AMAZON - NASDAQ
This relates as much to crypto as it does to stocks. Why? Because all follow similar (some may say the 'same') trajectory as it's as if it's run on same simulations by same individuals.
Just look at Bitcoin 'bubble' 2017 - 2018. See any resemblance to Amazon and to be frank the whole stock, bond market? Looks awfully similar to me especially with mixed media reports lately. Did you notice how we had a week a everyone being super bullish on stocks and then suddenly we switched into mass bear predictions followed by balancing of bull, bear news? Why is that? Simple! When a person is confused or unsure on what he or she should do with their holding, what are they most likely to do? They are most likely to make a huge mistake, which is exactly what we have in front of us today!
I might be early, but I'm not wrong!
RECESSION is clear...The steady decline of Amazon is clear to see if you just open your eyes, but people don't want to do that as they are brainwashed!!
A recession is coming, if you cant see it then you will loose everything!
Simple as that really.. Look at the bigger picture and don't believe all the s#it you are fed by the government and big business owners.. of course they don't want you to really know what's going on so you don't panic and keep spending.
The government only care about themselves, when the recession does hit do you think they are going to help you? or just leave you homeless on the streets? exactly!
Fundamentals and technical analysis all point short.
AMZN - Have we reached the top?Labeled some key levels of significance and used a fib retracement chart to estimate landing zones.
Prior mini-tops retraced to about the .5 fib level. The larger cycle correction could also obey this level but may drag lower to the .618 range, which is why I gave a range for where the price could land.
~1600 is a key level of significance, if it breaks we will be going much lower.
The real question is, can amazon reach ATH? Watch the volume carefully when we have the bounce back up. Should be good indicator for remaining bull strength.
Amazon Elliott Wave View: Further Upside ExpectedHello Traders,
Amazon near-term ended the cycle from 07/31/18 low (1739.56) at the peak of 08/15/18 (1926.26) in black wave ((i)). The internal structure of black wave ((i)) unfolded as a 5 waves structure with an extended blue wave (iii). It ended blue wave (i) at 01/08/18 peak (1800), blue wave (ii) pullback at 02/08/18 at (1818.61) , blue wave (iii) at 08/13/18 peak (1925.72) and blue (iv) pullback at 08/13/18 (1893.80) and finally it ended blue wave (v) of black ((i)) at 08/15/18 peak (1926).
Below from there, it ended black wave ((ii)) pullback at 08/17/18 low (1855.58). Up from there, it is currently in the progress of another 5 waves structure higher. It ended red wave i at 08/21/18 peak (1898.46), red wave ii pullback at 08/21/18 low (1870), red wave iii at 08/23/18 peak (1920) and red wave iv pullback at 08/23/18 low (1900). Up from that low, it can end soon red wave v of the blue wave (i) before a pullback in the sequences of 3-7 or 11 swings in blue wave (ii) can be seen. As long as the pullback stays above 1855.58 invalidation level we expect it to extend higher due to the right-side tag. The right side remains to the upside. We don’t like the selling.