$AMZN TOP 20
Added 2023-03-04 11:35:01 +0000 UTCIt has been interesting to watch today at how all the Mega Cap stocks have pulled back and each of them have all held at different Fib level, $TSLA at the 0.236. Fib, $AAPL at 0.382 Fib, $MSFT at the 0.5 Fib, $GOOG at the 0.78 Fib and $AMZN just recapturing the 0.65 Fib on Friday.
So what we can take from this is that each stock is completely independent of each other and together they make a mean, in this case the 0.5 Fib is the mean....and this is how the S&P works too.
For $AMZN, it was looking very weak during the week until Friday effectively saved it, and held the 0.65 Fib, we were very close to entering our buy zone at $86.
MACD is still very much bearish and the RSI is just at support, Bulls will really need to get behind this now to salvage Wave 2, any failure here and we will see a retest of the low and straight into the buy zone.
