$AMZN TOP 20
Added 2024-10-04 09:31:46 +0000 UTCOk the strike is now potentially over but at least postponed until Jan 2025, workers will vote on the proposal over the next few days, $AMZN is getting a bounce in the PM now on this news.
We can see that the pull back dropped in between the 0.5 - 0.618 Fib and held support on the 0.5 Fib at $182.
We can't rule out a test of the 50 Day MA at the 0.618 Fib and the wedge top line at $178 however.
But if the rebound comes in today, we could see a retest of the blue line at $188 from below next.
This is going to be so important to us because a rejection at $188 from below will signal that this is Wave B, a hold above $188 and $200 is next
Again, let the price action guide us, we don't have to do anything to our position right now.
Comments
Or just wait for the ABC correction to complete?
Giorgio
2024-10-04 16:12:56 +0000 UTCSo if it’s rejected at 188 would you trim?
Giorgio
2024-10-04 16:12:42 +0000 UTC
