$AMZN TOP 20
Added 2024-06-16 17:01:36 +0000 UTCFor the last 3 weeks I have said that $AMZN remains the most attractive Mega Cap to me while the market continues to move higher while we wait for the Fed to pivot and inch closer to the election date.
The price action has tested the $188 level again this week and was met with resistance, this was the level we waited for for the last 18 months to reach so it is not a surprise to see this as a resistance but I believe as long as $AMZN stays in this bullish wedge, it can consolidate and move higher again to retest the $188 but can break above next time.
Wave 5 PT remains at $210 and although $AMZN has already broke above its ATH line at $188, it has not stayed above this level, so the price has been effectively flat since 2020.
$AAPL had the same set up and then aggressively broke through, I suspect the same will happen with $AMZN here.
