AMAZON.COM INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 157.80 |
| Take Profit | 181.60 |
| Stop Loss | 150.00 |
| Key Levels | 131.70, 145.00, 145.30, 147.00, 153.00, 157.80, 181.60 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 145.30 |
| Take Profit | 131.70 |
| Stop Loss | 147.00 |
| Key Levels | 131.70, 145.00, 145.30, 147.00, 153.00, 157.80, 181.60 |
Shares of Amazon.com Inc., the global leader in e-commerce, are developing a moderate sideways correction, trading at 153.00.
An upward trend is forming on the daily chart, within which the price has consolidated above the high from the beginning of September at 145.00 and continues to grow.
On the four-hour chart, the quotes are approaching the initial trend level of 61.8% Fibonacci extension at 157.80, consolidation above which will allow the asset to reach the basic trend level of 100.0% Fibonacci extension at 181.60.
Technical indicators maintain a stable buy signal: the EMA fluctuation range on the Alligator indicator is expanding upward, and the AO histogram is forming ascending bars in the buy zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 157.80 with the target around 181.60. Stop loss – 150.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 145.30 with the target at 131.70. Stop loss is below the current quote of 147.00.
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