AMAZON - falling wedge - get ready for the breakout
It looks like we have run into a consolidation right before the earnings. It may be good news for the investors because the company was clearly overbought lately, so the correction did give us some space for the future jump.
In my experience, when a weak resistance line meets such a strong support line, the first one does not stand a chance. You can clearly see that this trend line has not been broken since March, so in my opinion there is no chance the price does not follow such a strong bullish trend.
Please be aware that the market can be extremely volatile and not always bullish even if the report is decent. Don't be greedy and take your profits asap.
Good luck!
In my experience, when a weak resistance line meets such a strong support line, the first one does not stand a chance. You can clearly see that this trend line has not been broken since March, so in my opinion there is no chance the price does not follow such a strong bullish trend.
Please be aware that the market can be extremely volatile and not always bullish even if the report is decent. Don't be greedy and take your profits asap.
Good luck!
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