Amazon is still working on its correction - well, we might have to drag the stock to the green target zone between $95.21 and $85.51 since it is currently moving sideways. Once the green wave [2] is fulfilled within the target zone, the trend can turn back North and rise above the resistance line at $117.50. Our alternative scenario with a probability of 40% implies, that the Amazon stock could ignore the green target zone and exceed the $117.50-mark right away.
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đ Daily market insights combining macro + Elliott Wave analysis
đ Spot trends early with momentum, sentiment & price structure
đ Join thousands trading smarter at hkcmglobal.com
đ Spot trends early with momentum, sentiment & price structure
đ Join thousands trading smarter at hkcmglobal.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.