The Long Investor

$AMZN TOP 20

Added 2025-04-10 11:03:29 +0000 UTC

$AMZN for me was the clear low risk buy over the last week and this is why I added twice

I have said that I believe it is the strongest Mega Cap and if any company was going to recover then this would be it for me, likewise there was no clear Wave B bounce yet so we bought with the anticipation that we would at least get a Wave B bounce and that is what we are getting at the very least now.

Price jumped +12% yesterday which means this is moving very quickly, which aligns with how quick the drop has been too.

The 50 WMA at $197 will be the first level of interest for a test, Wave B's do not complete in one session, they move in 3 waves and can take weeks and even months to complete....let's assume it won't take months but let's give it a few weeks at least.

My plan is simple here:

I will consider one more buy with a hold between the 0.38 Fib and 0.5 Fib between $181 - $162

And I will hold until the Wave B range and watch for a 3 wave bounce, if I see a 3 wave bounce and a rejection in the Wave B range, then I will sell, at least 50% of my position to add at the end of Wave C.

If there is no rejection in the Wave B range then I will continue to hold, I do not need to do anything then.

Straight forward from here.