Amazon (AMZN) - Edition #1

Amazon (AMZN) - Edition #1

Macro Outlook: ๐Ÿš€ Bullish ๐Ÿš€

  • June's monthly chart closed above previous all time high.
  • This type of candle closes on a higher timeframe like the monthly charts, show lots of strength and possible continuation to the upside.

What to expect for Monday's open?

  • Ideal long entries will be at around $180 - $170.
  • Invalidation of trade upon price sweeping below $160.
  • Markets are irrational, keep in mind price might just keep moving upwards before making a substancial retrace.
  • Making a small market buy at Monday's open price might be smart.
  • Remember to dollar cost average your way in and keep powder at hand.
BATS:AMZN Chart Image by ZelfTrade