$AMZN TOP 20
Added 2025-04-03 09:55:18 +0000 UTCWe have been all over this and something I am very happy about.
A rejection under the 200 Day MA, failure to hold on the blue line and now the price is testing its lower low breakdown level now and coming very close to the 0.38 fib at $181.
This is where I expect all Wave A levels to test and hold at and this would be standard but a harsh market weakness could drop it to the next Fib level at the 0.5 Fib at $162, which is what we are seeing on the $NVO chart right now too.
So we must wait for support confirmation before considering jumping in to catch Wave B.
I spoke yesterday that I will be interested in buying for Wave B but once I am happy the market has stabilised
So I will be looking for support at $181 here and consider adding, otherwise I will wait.
