$AMZN TOP 20
Added 2023-10-22 19:31:42 +0000 UTCI have added on the chart here the impulse invalid level at $114, as this would infringe on Wave 2 if the price fell to here.
Earnings report is due on Thursday, so there is quite a long way to go from where it is now and to make this chart invalid.
There is also potential support levels at the previous low at $122.50 and the 200 Day MA at $116.
I will be giving $AMZN every chance to bounce and hold its structure and I am not expecting a bad earnings either.
If the price does go as $114 and finds support, then I will likely be adding here again.
Comments
I love $AMZN like you do, cap. What is relative valuation between Amazon, Tesla and Nio? At what price point would you possibly sell Nio and proverbially "your home" and buy Amazon? $110? $100? Would love to hear your commentary on relative valuations
FS
2023-10-22 19:43:30 +0000 UTC
