Thread by @malteseinvest

Analysis: #NASDAQ: #AMZN

Case 11 #Amazon.com Inc

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

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Amazon has seen a tremendous uptrend since early 2015 culminating in a top @ $2050.50 reached in September 2018. Conditions since then have become broadly range bound.

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Chart 1
Monthly Chart: The most important lines - TLs, #TL pivots and horizontal #pivots have been laid out. Watch for monthly closes below these levels to get an indication of the next moves.

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Chart 2
Monthly Chart: #Fibs have been added off the main #trendline. The 0.382% coincides nicely with the monthly pivot low close. Failure to close below $1448.00-$1447.00 will add more confidence to the upside.

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Chart 3
Weekly Chart: Trend channel resistance has been added. And TL pivot resistance. Current trading conditions are in a broad range.

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Chart 4
Weekly Chart: Fibs added on the last swing low. The resistance levels match up with channel resistance. A strong break/close above 2050.50 eventually targets the 2253- 2360 range.

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Chart 5
Weekly Chart: One method is to enter into position where the monthly pivot levels appear. We wait for now on the sidelines.

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The strategy:

Sell 1895 (ADD 1928) Stop 1970 Target 1770/45

Buy 1585 (ADD 1567) Stop 1480 Target 1720/45

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