$AMZN TOP 20
Added 2024-03-15 13:58:00 +0000 UTCI will be discussing $AMZN in more detail over the weekend when we complete the Top 20 review but it is interesting to have a quick look at this, in case anyone was considering adding going into the weekend.
PPI came in hot this week and we saw a rush to the old reliables in the form of the Mega Caps but today we can see that this was short lived and the selling continues for these Mega Caps.
$AMZN managed to bounce back up to its yellow trend line before rejecting perfectly here and now has fallen back below the red neck line under $176....this does not fill me with confidence that $AMZN can move much higher.
$188 is still possible, I can't rule that out but I am leaning towards $AMZN starting its ABC correction shortly.
