AMZN: An opportunity to BUY? Let's see.
Hello traders and investors! Yes, AMZN did exactly what we expected, after it confirmed a top in my last analysis. Now, what to expect here?
First, despite the drop, keep in mind that we just hit a Dual-Support level in the daily chart. The first one is the 38.2% Fibonacci’s Retracement, and the second one is the 21 ema. In our last analysis, we set a target at the 21 ema, if it loses the “Trap Zone” we were looking at by the time it was above the $ 3,500. Link to my previous analysis is below this post, as usual.
Now, let’s see the 1h chart:
In the 1h chart, it seems we have an Exhaustion Bar: A large bar, with high volume, near the previous support that appears after a restless bearish movement.
This pattern wasn’t confirmed yet, but it makes perfect sense, given the D and 1h chart support levels. So far, we have a Harami candlestick, which might work as a reversal.
If we see any bullish confirmation tomorrow, I’ll consider AMZN as a buy. If you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if you liked it!
Have a good day!
First, despite the drop, keep in mind that we just hit a Dual-Support level in the daily chart. The first one is the 38.2% Fibonacci’s Retracement, and the second one is the 21 ema. In our last analysis, we set a target at the 21 ema, if it loses the “Trap Zone” we were looking at by the time it was above the $ 3,500. Link to my previous analysis is below this post, as usual.
Now, let’s see the 1h chart:
In the 1h chart, it seems we have an Exhaustion Bar: A large bar, with high volume, near the previous support that appears after a restless bearish movement.
This pattern wasn’t confirmed yet, but it makes perfect sense, given the D and 1h chart support levels. So far, we have a Harami candlestick, which might work as a reversal.
If we see any bullish confirmation tomorrow, I’ll consider AMZN as a buy. If you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if you liked it!
Have a good day!
📚 DOWNLOAD OUR EBOOK ON TECHNICAL ANALYSIS FOR FREE!
✅ LEARN TO TRADE IN PRACTICE AND IN REAL TIME! CHECK OUT OUR WEBSITE FOR MORE DETAILS:
👉thefinancehydra.com/joinusnow
✅ LEARN TO TRADE IN PRACTICE AND IN REAL TIME! CHECK OUT OUR WEBSITE FOR MORE DETAILS:
👉thefinancehydra.com/joinusnow
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.