Amazon (AMZN) Inc. has been trading within a 2-year Channel Up and since the May 05 2026 High, it has started its new Bearish Leg. Friday saw it almost touching its 1D MA200 (orange trend-line) and rebounded.
Technically, the Bearish Leg should be at least half-way through as similarities with the early phase of the Channel Up, suggest that it should complete at least a 0.786 Fibonacci retracement level test.
The last two Higher Lows of the pattern even breached below the 1W MA100 (red trend-line), so a $210.00 Target would cover both conditions.
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Technically, the Bearish Leg should be at least half-way through as similarities with the early phase of the Channel Up, suggest that it should complete at least a 0.786 Fibonacci retracement level test.
The last two Higher Lows of the pattern even breached below the 1W MA100 (red trend-line), so a $210.00 Target would cover both conditions.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
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I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.