$AMZN TOP 20
Added 2024-08-17 14:49:53 +0000 UTCAs we know, I added at $160 and set forward my reasons for doing do, mainly that it was at the perfect point to bounce regardless of whether it was a bounce for Wave B or the start of bounce to a new high.
Price finished the week at $177, so we are very happy with our buy at $160.
We know there is a lot of resistance ahead for $AMZN
The 50 Day MA at $184
The difficult resistance line at $188
The Bezos Sell line at $200
So all we need to do is watch and observe for any rejections, any rejection and $AMZN will likely be starting Wave C next.
Clearing these levels and we have a melt up for $AMZN
The 1.618 Fib at $223 is the First Target, followed by the Second Target at the 2 Fib at $247
We do not need to do anything now but observe
Comments
The market will decide that, a bullish euphoria can soak up the bezos shares supply
Gareth Neary
2024-08-17 14:57:27 +0000 UTCWhat makes you think there’s any runway past 210 until Bezos has finished selling?
Nick E
2024-08-17 14:56:14 +0000 UTC
