Price contracting nicely, respecting my levels so far. I bought in slightly early, but with a stop-loss tucked under the wedge nicely.
I believe that with the national lockdowns more people will shop online, thus Amazon will pop to the upside. This ties in with Amazons continued growth, and respects the previous trend and chart pattern.
All confluences to confirm my belief.
The first target would be the top of the wedge $3500 - which is also a nice psychological level and a 5:1 risk reward ratio.
I will be holding this position for a long time however, several years. Managing my SL accordingly
I believe that with the national lockdowns more people will shop online, thus Amazon will pop to the upside. This ties in with Amazons continued growth, and respects the previous trend and chart pattern.
All confluences to confirm my belief.
The first target would be the top of the wedge $3500 - which is also a nice psychological level and a 5:1 risk reward ratio.
I will be holding this position for a long time however, several years. Managing my SL accordingly