End of rallyPrice failed to reach 200$ and dropped when reaching top of both channel up
I expect a new retest of 200$ and then a sharp drop
AMZN trade ideas
hodgescheck this out.. this is a great analysis. could use a little more touch ups but elliot with fib etc.
AMZN breakout has more room on the weekly chart.NASDAQ:AMZN has room to $214 on the weekly chart as continuation of the previous all-time high breakout at $191.70. Watch over last week's high of $200.55.
AMZN weekly chart looks intact for continuation.NASDAQ:AMZN weekly chart shows that it is holding the previous all-time high breakout at $191.70. It is also holding the weekly 5 SMA, which would provide a good entry to average up on the swing after taking profit last week. Jeff Bezos selling at $200+ needs to be cleared out before the stock can continue higher, and it appears that he has sold about 33% of the total 25 million shares planned based on SEC filings.
Amazon daily log schartYikes! Can somebody check on Jeff Bezos?
Important support line getting tested.
#amazon
AMZN is at weekly and daily demand zones.NASDAQ:AMZN is at key weekly and daily demand zones which have held up for the past several months. The daily 100 EMA and weekly 20 EMA have served as strong demand zones on this entire move higher after last earnings season, and we have been swinging the stock long from these levels in the $170s, before scaling out at $190 and $200 targets. This dip into $182 is a great level to reload equity that was sold into targets for a potential move back to highs. The trade will be invalidated if it builds below these levels; however, entry here provides favorable reward-to-risk ratio.
AMZN trendline breakdown possible , US Stock181 Below trendline breakdown possible
180/178/175/170/166 can test if sustain below that level
Back to $200 test!!Im always bullish on AMZN during AMZN prime month. With yesterdays bounce off of the 100 day moving average take off is prepped!!!
Amazon: Almost there!Amazon should continue to decline with the magenta-colored wave (4) into our same-colored Target Zone between $176.91 and $161.83. As soon as it has established the corrective low there, a rise above the resistance at $201.31 is on the agenda. However, we will already see the price in the magenta-colored wave alt. (5) should the resistance be broken early.
AMZN expected correction and buying areaDue to a piercing candle pattern and completion of 5 wave impulsive Elliott wave pattern, I expect Amazon to correct to price levels below in black from where I expect it to rally to new all time high.
Bitcoin following Amazon 2010 chart in the exact same pattern!!This is crazy find guys!!! I found this a while ago and bitcoin is absolutely copying the exact pattern of Amazon chart back in 2010!! and I've been watching it all along, and it just keep going the way Amazon did!!! According to this pattern, we can see that bitcoin's previous ATH will break soon. and continue the move by copying the pattern again.
AMAZON Stock Chart Fibonacci Analysis 071824Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 184/61.80%
Chart time frame : B
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : C
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the Support
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern.
When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks.
If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
AMZN deep into demand zoneAMZN had a nice pop out of the inverse head and shoulders. Alongside other large caps the surprise low inflation print is causing profit taking and a rotation. AMZN was unable to hold 200$, and has fallen deeply into the demand zone on the weekly. Fundamentally the stock is worth at or above this price in my opinion, this is a great long-term buy zone.
$AMZN #RisingWedge into $200 hmmmRising wedge on the 2hr , Might have some SHORT Term potential to the downside for you traders before the eventual break UPwards of 200...
#ShakeoutB4Breakout ?
- Prophecies
BTFD unless major news...
AMZN Breakout ScalpWhile in this uptrend I will only look for bullish trades. In this example it is the breakout of an inside candle to the upside with targets around the $200 mark.
Insiders Are Selling Shares of Large CompaniesInsiders Are Selling Shares of Large Companies
Yesterday, the S&P 500 stock index (US SPX 500 mini on FXOpen) set another historical high, closing near the 5650 level.
However, similar records are not observed on the charts of rally leaders from the first half of 2024 – NVDA's price is 8.6% below its historical high, MSFT is 3.1% lower, and GOOGL is 2.6% below its record.
And this isn't the only cause for concern. Insider sales, as indicated by reports to the SEC, could add to anxieties. For instance:
→ Bezos sold over $900 million worth of AMZN shares;
→ Nvidia board member Mark Stevens continues to sell NVDA shares, as does company CEO Jensen Huang.
According to Goldman Sachs, fund managers have increased their long positions in US stock index futures to record levels.
And according to a July survey of fund managers conducted by Bank Of America:
→ Market sentiment remains bullish amid expectations of a Fed rate cut and a soft landing for the economy;
→ Geopolitics now pose the biggest risk to markets, followed by inflation.
If professional market participants foresee further growth in the stock index, it might not be driven by shares of large companies.
On June 27, we discussed the bullish "cup and handle" pattern near the $190 level on the AMZN price chart. Since then, bulls have shown the ability to push the price towards the psychological level of $200, but they have not managed to sustain this success.
Today's technical analysis of the daily AMZN chart shows that:
→ The price is moving within an ascending channel (shown in blue);
→ After breaking above the $190 level, the price failed to reach the upper boundary of the channel – a bearish sign;
→ The breakout above the psychological level of $200 turned out to be false ("bull trap").
Support for bulls could come from:
→ The $190 level (former resistance);
→ The median line of the blue channel.
According to TipRanks, the average price target for AMZN, forecasted by Wall Street analysts, is $222.51 (up 15.46% from current levels) in 12 months.
Despite prevailing positivity in the stock market, weaker performance compared to the index and insider sales should caution regarding the future prospects of AMZN shares.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Amazon - Swing idea with Volume ProfileOn Amazon , it's nice to see a strong buying reaction at the price 188.
There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again.
The S/R zone from the past and high volume cluster are the main reasons for my decision to go long on this trade.
Happy trading
Dale
AMAZON DECLARES WAR ON TEMU
Recently, Amazon (NASDAQ:AMZN) has launched war on Chinese platforms Shein (private) and Temu (PDD Holdings Ticker: NASDAQ:PDD), both of which have been capturing significant market share in online retail sales. Amazon has announced the opening of a new online store for low-cost products shipped directly from China. Initially, this store will focus on brand-name apparel and household products priced under $20 and weighing less than 1 pound (almost half a kilo).
Key Facts:
App Downloads in 2023: Temu was the most downloaded e-commerce app with over 120 million downloads, surpassing Amazon. According to Google GWS, Temu had 82.4 million active users in September 2023, compared to eBay's 40 million and Walmart's 85.5 million. Amazon, however, still leads with 142 million monthly users.
Impact of the "Dom Minimis" Rule: Chinese sellers take advantage of this rule that allows them to import products without paying duties or taxes if the value of the package is less than $800. This gives them a significant cost advantage.
Temu Growth: Since its launch in 2022, Temu has seen a considerable increase in sellers also operating on Amazon. Currently, there is approximately 10% overlap between Temu and Amazon sellers, and this number is expected to increase.
Price Comparison:
Price Difference: Many products on Temu are significantly cheaper than on Amazon.For example, a fan that costs $23 on Amazon is available for only $6.95 on Temu.This is because Amazon sellers must pay referral fees, import, duty, and high FBA fees.
Amazon Fees: This year, Amazon has increased its FBA fees, introducing an inventory placement fee ranging from $2 to $6 per unit, and a low inventory fee. This increases costs for Amazon sellers.
Amazon's strategy:
Chinese Factory Incentives: Amazon is incentivizing Chinese factories to sign up for its program, allowing them to ship directly from China, which would avoid additional costs and compete with lower prices.
El Cheo Mall Section: Amazon plans to have a section specifically for these low-cost products, although they would likely appear in regular searches as well, competing directly with products from third-party sellers on Amazon.
Implications:
This Amazon strategy could displace many local sellers who cannot compete with the low prices of products shipped directly from China.
Sellers will have to adapt, focusing on customized or high-end products that cannot be easily replicated.This is because local sellers must pay for mandatory inventory service and mandatory packaging, unlike products from China.
The consumer mindset shift of price over speed has mutated due to increased inflationary pressure from consumers who previously prioritized speed over price. But finding the same product in Temu at 1 euro and the same product at 40 euros on Amazon, has resulted in a drift of Amazon to seek imitation of its Asian competitors, who seek volume over price. Amazon was already punished in India for its monopolistic practices, but China, ends up fighting monopoly with low prices, lower than anyone could assume. In reality Amazon doesn't care how they make profits, and it is likely that FBA sellers will end up adapting their strategy to MOAT products (which cannot be easily replicated) and with higher quality and branding that defines their products. It is important to monitor how this strategy will affect the market and consider diversifying sales strategies to stay competitive in this environment.
Looking at the chart Amazon has been marking economic milestone after economic milestone with a new support zone being generated at this moment around $191.79 being the previous zone $174.24. We will see if it exceeds the highs of $201.20.
On the other hand, the control point (POC) is located around a lower support zone around $146.54. The current RSI is oversold at 39.02% so it would not be unusual for it to look for a rise again in the coming weeks.If we look at Temu's chart, since San Juan (June 24), it has been forming a fall in price to the $142.80 zone, being the current price zone $138.00. We will have to see if it recovers the $153.40 zone and looks for the highs in the $162.00 zone with the new Amazon strategy.
Ion Jauregui – ActivTrades Analyst
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All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
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Bulish BreakoutThe price has broken out of a very strong resistance zone.
As you can see price is making a retracement to the resistance zone that was broken which is now support.
A bounce on the level could lead the price to rise to the upside.
AMAZON Local Long! Buy!
Hello,Traders!
AMAZON is trading in an
Uptrend but the stock is
Going down in a correction
But will soon hit a horizontal
Support of 190$ from where
We will be expecting a
Local bullish rebound
Buy!
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AMZN breakdown possible 193 below support breakdown possible
can test the following level if sustain
192.30/191.50/190/188.50
Amazon,,, pullbackUptrend
The chart is coming back for retesting the broken level. My estimating is reaction between 190 to 192 and maybe exactly here. Totally forming a good bullish candle in next week will be an opportunity to get a buying position. Below this S/R zone can be a good place for setting SL and next target about $250. The last candle is a Doji and after a bullish candle trigger will be issued.
