Sultan_of_Chart

AMZN loading up for a nice move

Giá lên
NASDAQ:AMZN   Amazon.com
I've been following AMZN for a while as it's been range-bound for about a year while the market has continued to grind higher. I was tracking the ascending triangle and prematurely made a BUY at 3370 before the breakout, but I believe the set-up now is more attractive. We broke out of the triangle on great volume on July 6 and I was waiting for a retest of 3543 to increase my position. This level should serve as support.

Equal risk/reward ratio but I believe the odds are solidly in our favor for a bullish move. If the market stays calm and/or moves higher, I believe we could see $4,000 but for this trade, let's keep more realistic expectations.

TP: ~$3830 (+7.1%)

Published trade statistics:
Win Percentage: 6/8= 75%
Avg Gain on Wins: 12%
Avg Loss on Losses: -13%
Weighted Avg P/L % : 5.98%

Pending Trades (including this post): 2

- Sultan of Chart

*This is not financial advice*

Never let the fear of striking out get in your way.

- Sultan of Chart
Thông báo miễn trừ trách nhiệm

Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.