$AMZN TOP 20
Added 2023-03-19 20:09:40 +0000 UTC$AMZN is not quite in the same situation as $AAPL as their negative earnings and vulnerability to changes to consumer behaviour has swung them into a loss. So for now they are comfortably still in the Red channel, above the 50 Day MA but well below the 200 Day MA. What is in their favour is that they have held the 0.65 Fib level and just about held above our Bear Case and Buy Zone, $AMZN still has a lot to do, RSI is not any direction confirmed yet and the MACD has just shown a glimpse of a bull trend, the same for $AAPL, but I will need to see more of this to confirm.
What we should watch for now is the 200 Day MA (yellow line), if it rejects here, Wave 5 down completing is next. Above the 200 Day MA and we want to see if it can break out of the red channel and into the bull case, a long way to go here.
