EuroMotif

AMZN at a crucial price. Amazon river at a Fork: abc or 12345 ?

NASDAQ:AMZN   Amazon.com
Follow up to my AMZN analysis from last year (click).

Amazon is at a crucial level on the price spectrum.
Bounced from a clear support exactly into resistance.
This bounce helped by an overall stock market rally.

Now we are at a critical zone, and in a no-trade area.
It could drop from here into a wave 5 of downward Impulse.
It may have finished an ABC correction and continue uptrend.

1729-1736 immediate resistance, break hints at "ABC correction done".
1824-1836 is decent resistance, very likely to pause the next leg up.
1898-1918 is strong resistance, highly unlikely to break for some time.

1672-1687 immediate support, break hints at "12345 Correction going".
1573-1588 is strong support, should cause serious bounce or reversal.
1472-1489 is Major support, hard to break unless Trade War catastrophe.
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See some of my other plots and trade calls below.
I also plot Forex and Crypto, take a look at my profile page.

SPX bot Jun 2019
SPX top Apr 2019
SPX top Oct 2018
FaceBook bounce
Twitter bounce
NetFlix bounce
Amazon scalp
Gold long
Silver long
Crude long

Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.

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