AMZN wants to retest the supply zone, and this is confirmed by the AD showing an Ascending Triangle pattern to $190, which Is spot on near the previous supply zone
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1st supply zone to be attacked is 150, dont be confused by the Yellow Box. Thats accumulation, if you look closer thats an inverse head and shoulders pattern. Price action would have to gap up ... buy the dips and i'll break this down more
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you should be able to see the inverse head and shoulders pattern, now inside this is the base to the cup and handle pattern
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look how they hid this in plain sight
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1st lets worry about 125
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and this my friend is how you forecast w/ money flow... this whole inverse head and shoulders movement is the head to the larger inverse head and shoulders pattern
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105 is breakout level
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prev. resistances now support
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Long term $190 target still the goal. Profit takers at 110, can't be mad at that trade.. From April 13th, the stock rose over 10%... I currently see a retrace to 408 on SPY, which is going to put some pressure on Amazon... There is a bullish cypher set up im monitoring which will present another long term buying opportunity for this stock
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I dont want the AD to breach D leg of this bullish cypher pattern
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higher time frame you can see the bat.. I would love to see $100 honestly... Long Term hold for me...
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2023 uptrend still in tact. price action needs to stay in the channel.. 92.17 is a gift if we ever get that, doubting it to be honest
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wow Amazon is showing amazing strength today.. This is impressive... sp500 down over 1.50% and amazon says we dont care we going up... Give me my dip please lol
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updated bullish cypher I mentioned yesterday before close... We could run this back to HKEX:110 .. As you can see any dips near $100 is getting bought up
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that cypher is connected to the larger 1hr bat pattern
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onto a higher time frame. I see the ABCD pattern , and measure the fibs from the height of the ABCD pattern to the lowest point... and attached a wave count to it. I come up w/ a bullish C wave near the .236 fib level
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im going to post another chart, doing my best to keep the charts clean
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the chart is live, but I chose to make it private.. You can view it by clicking on it.
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amzn really acting like its bulletproof... Just no freaking dips to buy here as of yet.. unfazed again by sp500 futures and spy etf.... up 2.25% as I type this to 109.00
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imho the start to 95.50
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double top by the AD, + price action and Chikou Spann
🙏 Masterful analysis. Thank you for sharing your wisdom.
Dukenukem128
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amazon looks soo bearish along with tessy, doesn't even move(whole month its at 100) when rest of tech pumps(10% up), smart money hasn't arrived, this triple bottom pattern is exactly same we saw before 2008 crash, or more recently nike stock, max it goes to 110(fakeout) and then 1 more new low before 65, if it doesn't fake out.. amazon will dump rest of the year.
@moneyflow_trader, not sure how to post chart here, but look at Nike, from mid may to Aug 2022 on 4hr we have triple bot, followed by a fakeout from wedge and then newer low, just a alternative idea, amazon will go back to 150 for sure, question is 80 the bottom
moneyflow_trader
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@Dukenukem128, you dont see what I see, but thats cool. Just keep monitoring you'll see
heavy_assault
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@Dukenukem128, pumping to the moon the whole week, because they said 2 things recently: AI + layoff
this market, no care about fundamentals, profits, revenue. all they want to hear is AI and job cuts
Dukenukem128
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@heavy_assault, haha yeah, want yr stock to pump 10%... just mention AI integration and sell into liquidity
heavy_assault
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@Dukenukem128, if amazon does a nike and drops to 70s im backing up the truck. i never paid attention to amazon so didn't buy at january lows (covid lows, obviously very strong support), then i look at it and realize what a bargain it was at the lows, i pray i get another chance...