Bullish $AMZN Amazon broke out of its channel on Friday, stock has the potential up to $124 per share over the next week.
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AMZN
AMZN - BULLISH SCENARIONASDAQ:AMZN Giant, rated as one of the most stable blue chips out there. Unless the earning report is way below expectations the price is likely to bounce off the support levels from before the split action 5 months ago and transit into a trend reversal formation.
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AMAZON to crash to $80This analysis I do out of doubt.
The charts show an INverse Cup and Handle.
The moving averages are all down 200 > 21 > 7MA
Target 1 seems to be $80.70.
CONCERNS:
The $100 support level is extremely strong and price doesn't seem to price below.
I would go short but knowing this is a medium to low probability trade.
AMAZON - Make Or Break! Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
AMZN is approaching a strong support and round number 100.0 in green.
For the bulls to take over, we need a new major high to form and then a break above it and above the falling trendline in orange.
Meanwhile, we would be bearish and we can still dive inside the green zone 85.0 - 100.0 before reversing.
Unless the bears manage to break below 85.0, in this case, the bears would remain in control and more bearish movement would be expected.
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
AMZN Potential for Bearish Continuation| 13th October 2022On H4, with the price moving below ichimoku cloud and descending trendline, we have a bearish bias that the price may drop from the sell entry at 116.81, which is in line with the overlap resistance to the take profit at 101.28, where the 78.6% fibonacci projection and 61.8% fibonacci projection are. Alternatively, price may rise to the stop loss at 122.35, where the previous swing high is.
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AMZN Potential for Bearish Continuation | 11 October 2022On H4, as the price moving within descending channel and below ichimoku cloud , we have a bearish bias that the price may drop from the sell entry at 117.35, which is in line with the overlap resistance to the take profit at 102.18, where the swing lows are. Alternatively, the price may rise to the stop loss at 125.05, which is in line with the 38.2% fibonacci retracement .
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
AMZN Potential for Bearish Continuation | 11 October 2022On H4, as the price moving within descending channel and below ichimoku cloud, we have a bearish bias that the price may drop from the sell entry at 117.35, which is in line with the overlap resistance to the take profit at 102.18, where the swing lows are. Alternatively, the price may rise to the stop loss at 125.05, which is in line with the 38.2% fibonacci retracement.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Amazon´s downtrendAmazon was marked with a huge growth during the COVID period which makes us focus on the behaviour of the stock within the rectangle of that period. And we notice here that we have a support at 143 and within the rectangle we can notice the oscillation of the price. This also marks a curve format that leads us to the downtrend starting from April 2022.
So, following the trend line above we expect that the price will first rise following the curve in the rectangle then drops either to 124 or 101 which is the limit of the rectangle.
AMZN: A breakout from a Congestion Zone! What's next?• AMZN triggered the bullish sign we discussed last week, by breaking the $117 area, and it is behaving just as we expected. As usual, the link to my last analysis is below this post;
• Now that it is not in a congestion anymore, AMZN is free to seek its next resistances. Ideally, it would fill the gap at $136 in the next days – Remember, gaps work as magnets during reversals;
• AMZN is consistently trading above the 21 ema, which is good, but the reversal is still on early stages, and any bearish reaction could frustrate the bullish thesis;
• What kind of reaction could make AMZN reject the bullish thesis? If it loses $117 again it wouldn't be good. If it triggers a bearish reversal structure, it would be worse. So far, there’s no technical bearish reversal structure around, just an important resistance level, as seen in the daily chart below;
• The main problem on AMZN is the 21 ema, as any bearish top sign around this area would give us the impression of a Dead Cat Bounce, just for AMZN to resume the drop all the way down to $112 again, or even to the $102;
• Therefore, the situation is still delicate, and AMZN still has a few challenges before truly reversing this bearish sentiment;
• For now, let’s keep our eyes open around the $117 - $118 area;
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
AMZN: Next targets + Trend analysis!• AMZN is doing some range trading since September 23;
• Its support is at $112.06, while its resistance is at $118.70;
• The momentum is still bearish, and we don’t see any reversal pattern confirmed yet. In this case, we can assume AMZN will lose the support and seek the next target at $102 (the next support level);
• Is there any chance of a reversal? Yes. By breaking the resistance, it’ll trigger a technical mid-term reversal, and the next resistance at $136 would be the next target;
• The open gap near the next resistance will probably help the bullish thesis. Remember, gaps work as magnets during reversals;
• For now, AMZN is neutral, and the volume confirms this, as it stabilized along with the price;
• To whatever side AMZN breaks, I see a good movement in sequence. Let’s pay attention to these key points for now.
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
AMZN Potential for Bearish Continuation| 3rd Oct 2022On H4, with the price moving below ichimoku cloud , we have a bearish bias that the price may drop from the sell entry at 112.92, which is in line with the 100% fibonacci projection and 78.6% fibonacci retracement to the take profit at 103.96, where the swing lows and 141.4% fibonacci projection are. Alternatively, the price may rise to the stop loss at 118.11, where the previous swing highs are.
AMZN Potential for Bearish Continuation| 3rd Oct 2022On H4, with the price moving below ichimoku cloud, we have a bearish bias that the price may drop from the sell entry at 112.92, which is in line with the 100% fibonacci projection and 78.6% fibonacci retracement to the take profit at 103.96, where the swing lows and 141.4% fibonacci projection are. Alternatively, the price may rise to the stop loss at 118.11, where the previous swing highs are.
AMZN 90% Retrace from $102 where it started to uptrend.NASDAQ:AMZN
AMZN after the split it fell to $102 where there is strong support. Those levels was tested for 2-3 weeks. If it breaks 102 and breaches the $98.
It can go to 85. For the Bullish case. If we hold 110 - 105 it could consolidate at those levels.
AMZN: This structure could REVERSE the bear trend!• AMZN is in a bear trend, as it is doing nothing but lower highs/lows, and there’s no sign of reversal yet;
• In addition, AMZN is trading below the 21 ema, which is working as a resistance;
• Since it is a bear trend and there’s no confirmation of a reversal, the area near $100 is the next support level;
• However, a possible bullish structure could reject this thesis. If AMZN breaks the previous resistance at $117 (black line), it’ll break the bear trend by doing a higher high/low, and by breaking the 21 ema;
• This reversal would have a target at the last gap ($136 – green line), however, there’s no confirmation that AMZN will trigger this bullish pivot point;
• In the daily chart, we see why the $117 is important. It is not just the previous top in the 1h chart, but the previous top twice, in June and July;
• In addition, AMZN is below the 21 ema in the D chart as well, and this point will probably work as a resistance in the future. Still the gap around $136 would be the ideal target;
• However, in the lack of confirmation, AMZN will just seek the next bottom at $102, therefore, it is important to see some reaction as soon as possible if it wants to avoid this scenario.
Remember to follow me for more analysis like this! Keep in touch.