The Long Investor

$AMZN TOP 20

Added 2025-03-30 11:23:32 +0000 UTC

Big concern this week was the rejection of the 200 Day MA and this was seen across a number of charts and by the market, a lower low has not been seen just yet which is the last saving grace for the market but we must all consider that the set ups right now are not looking bullish, with a clean pull back and rejection at the 200 Day MA, with some harsh selling to end the week.

$AMZN will likely test its $188 blue support level again but losing this level and the 0.38 Fib at $181 comes into play and this is where $AAPL found it's own support for what I believe to be Wave A.

So I think support will come in soon here and then there will be at least a Wave B bounce.

I will be watching for a retest of $220 for Wave B, if a rejection comes here I will be selling a large part of my position (50%) to buy again when Wave C completes.