Part 2 of 7 Mega Cap Tech stocks | QQQ SPY Forecastsupport & resistance guide 7 Mega Cap Tech stocks | QQQ SPY Forecast
AMZN trade ideas
AMZN Short Amazon has exhibited a consistent upward trajectory over the past few months and has reached resistance.
amzn creating handle of cup #amzn had good back test at 130.55$ than broke out shoulder 136.7$.
Weekly look like creating a HANDLE . If can break out 140$, i believe it will play out this handle to get target 144$ up to 146$.
This plan will be failure if #amzn fall below 136$
Support 137.9$
Emerging Rising Wedge Pattern on AmazonA rising wedge pattern was identified two days ago, on 9/2 at 15:30.
This pattern is currently in the formation stage.
The entry level for this trade is pegged at 139.96, with a stop level of 130.59. The anticipated target level is 156.72, with a target period of 45 days, suggesting a potential bullish price movement towards this resistance within the next 46 days.
The expiration date for this trade is set for the 20th of October.
Why are Emerging Patterns Useful for Trading?
Emerging patterns, like the rising wedge, are valuable in trading for several reasons:
They are often formed based on historical price movements and behaviours, giving traders insight into possible future price directions.
Recognizing such patterns early on allows traders to set entry, stop, and target levels with greater confidence, thus managing their risk more effectively.
Patterns provide a structured approach to trading, allowing traders to make informed decisions rather than trading based on emotions or gut feelings.
These patterns also offer a glimpse into the market's collective psychology. For instance, a rising wedge, though typically seen as a bearish pattern, can indicate a bullish move in certain contexts, revealing prevailing optimism among traders.
AMZN looks appealing as a longAMZN price is above all EMA's along with 10W EMA. As long as the Price stays above $133.50,
Target of $143 and $146 are achievable. Close above $146 sets stage for $151.
Close below $133.50 will set target $126 and $122
AMZN Short: KarmaI've written about this before recently. There can be no hope for AMZN because of the woke agenda for their shows. Similar to Disney. Of course, Disney is currently suffering a worse fate in terms of the stock price. But I am confident that it will crash even more.
Part 2 of QQQ SPY FORECAST | 7 Mega cap TechWelcome to the daily stock market Mega Cap 7 Tech stock, Nvidia Microsoft Google Apple Amazon Meta Tesla Stock, Technical Analysis Show where I break down the price action and let you guys know what the most likely scenario I think will be going forward.
- Support & resistance Guide
- Stock Market QQQ & SPY confirmed daily uptrends
- Stock market Bears first step is an hourly downtrend
Bull put spread on AMZN for OctoberI got 9 check marks on this one.
.65 limit credit on the 120/115 bull put spread.
This is regular october expiration.
I love it
AMAZON Buy signal with a Double Target.Amazon Inc (AMZN) is trading within a Rising Wedge pattern and last week made the new Higher Low on its bottom. At the same time it hit the 1D MA50 (blue trend-line) and technically it is staging the new bullish leg.
With the 1D MACD about to form a Bullish Cross, we get a buy signal similar to May 09. As a result we are initially targeting 156.50 (+20.25%) and 164.00 (+26.15%) in extension.
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Long AmazonLong Amazon here just broke out of 1h range and diagonal targeting highs im wrong if it breaks back into 1h range in which case i but at range lows.
$AMZN Setting UpNASDAQ:AMZN looks interesting pulling back after its earning gap up.
* Earning gap up on volume
* pullback to 50 MA
* Closing the gap on much lower volume
* Stabilizing and turning back up
PART 2 SPY QQQ + 7 Mega cap TECH stocks ForecastPART 1 SPY QQQ + 7 Mega cap TECH stocks Forecast Technical analysis
Amazon stock has been breaking through all the way upAmazon stock has been breaking through all the way up
This figure shows the weekly candle chart of Amazon stock for the past three years. The top to bottom golden section of July 2021 is superimposed in the figure. As shown in the figure, Amazon stock has been breaking through all the way up since the end of January this year and completing the top to bottom shoulder positions in mid March. It has now reached the top to bottom golden section above 1.000, very close to 0.809, but has not reached the high point of the short start position in mid August 2022! So, in the future, we will use this high point and the 1.000 level of the top to bottom golden section in the graph as the long short range, with high selling and low buying within the range, and chasing up and selling out of the range!
AMZN Daily3.21 % of SPX
Broke above weekly ichy cloud on 7/3.
RSI(12) weekly at 63.94 shows signs of topping.
above daily ichy cloud
rising 50 day ema rising faster than 200 day ema
accum.distr trend is declining
My take: currently it is running in a solid channel. As long as that channel doesn't break, it is a good dip buy long. RSI(9) on daily showing some decline, but there is a good floor underneath the RSI, which tells me this stock still has some good momentum. a Gann line at 127.29 would be an area to look.
AMZN LONG (Longterm Markup)I have been looking at AMZN for a while. I love how it's moving. Based on my markup I see AMZN reaching new highs in the next 2-5 years. As you can se the push down was to create more momentum to the upside. I will continue to update this markup.
Let me know what you all think! Like always I'm open to hearing other thoughts.
Apple leads, the rest will follow.Looking to pick up some zon at the 618 retrace, would make a sick looking head and shoulder if that is the reversal. Seems to me like a logical place to go long.
