$AMZN TOP 20
Added 2023-06-18 20:40:03 +0000 UTCThis chart has not changed in a number of months now and it is very much following our projection. The $129 level at the 1.27 Fib has always been the big test here, the price action has gone as far as $128 this week, before cooling a bit. For me, getting above the $129 level is important as I can rule out the Corrective ABC then.
The other observation is that we can get the pull back now for Wave 3 complete but I would need to see Wave 4 hold the Bull case yellow line for Wave 4 then at $114, then we can expect this to go higher to complete Wave 5 around $152.
The RSI and MACD are showing early signs of a pulling back but this is not confirmed yet, we have seen my instances of this happening and these Mega Cap stocks have continued higher, so I would wait for confirmation, either way, I will not be touching my $AMZN stock.
This will certainly be a long term hold for me and would love to buy more if it can dip.
