$AMZN TOP 20
Added 2024-01-01 17:24:55 +0000 UTCIncredibly $AMZN is still a considerable distance away from its All Time High line at $188, whereas the $SPY, $QQQ, $AAPL and $MSFT are all there or thereabouts.
I do not see how $AMZN does not break above $188 before pulling back, the structure does not align with pulling back before making a new high.
So I have Wave 5 at the blue line, which means that there is going to be an explosive move here at some stage, breaking out of the yellow parallel channel.
I am always looking and waiting for a pull back with $AMZN to add to my position and I will wait for it to come first, I am watching the 50 Day MA here as a potential pull back level, it is at $143 right now and has been mirroring the bottom yellow trend line for the last few months....if the price action can pull back here and hold, then it is a buy for me before it moves up to our Wave 5 target.
