I'd recommend watching that top red trend line very closely if you're planning to hold AMZN. If the share price rejects it, the price will drop fast.
We saw a correction similar to this earlier in the year. The blue arrow notes the point at which I believe we are in this correction.
I'd shoot for the 50% fibo or even the blue monthly support trend line if I were trading it...unless the top red trend line is broken and we get a few days where the price closes above it.
We saw a correction similar to this earlier in the year. The blue arrow notes the point at which I believe we are in this correction.
I'd shoot for the 50% fibo or even the blue monthly support trend line if I were trading it...unless the top red trend line is broken and we get a few days where the price closes above it.