AMZN trade ideas
Inverse H&S on 30 min, AMZN.Looking to add with a break of the inverse head and shoulders visible on the 30 minute chart. AMZN in a clear up trend now and looking to break out of trend channel. $117.20 ish
Amazon Set To Reach 40% Growth For 2023?From October 2001 to July 2021, Amazon shares rocketed from $0.27 to a record-breaking high of $188, a stunning 70,000% rise.
Remarkably, during the height of the Covid-19 pandemic, Amazon's stock surged 23%, contrasting sharply with the S&P 500's 19% dip.
However, in late 2022, Amazon faced a downturn, with prices falling below the $100 mark. After hitting a low just above $80, prices started to bounce back, battling resistance at the $100 mark until eventually regaining ground in January 2023.
Currently, we are seeing a bullish trend with higher highs and higher lows. The share price has surpassed its February 2nd high at $114 and is now using this level as support.
Considering the stock has already ascended 34% this year, reaching a 40% growth mark over the coming weeks or months is plausible.
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AMZN AnalysisPrice did not play out as analyzed last week, it consolidated at the same area. From here, I'm expecting 2 scenarios. First, if price breaks above the highs at 118.60 and 121.32 cleanly, I'm expecting price to continue higher following the bullish order flow. Second, if price breaks below 109.25, I'm expecting price to follow my original expectations of respecting the current bearish POI and taking out the sell-side liquidity built over the past few weeks.
Amazon Update: Pressure is UpAccording to my analysis we are coming to the end of micro-wave 3 of our wave 3 of (C) of ((B)). I think we work our way up into the target box for the end of this retrace. After we top in our wave 5, we will head down towards my next box. If I am correct that signals around a 30-50% decline!...minimum. I hope I am wrong, but it appears there is a steep correction in the works for Amazon after this move higher.
If this count is correct, then that means our next major move down will be an A-wave. This indicates it will be swift and deep. It also means, Amazon is eventually headed even lower than that bottom box before it's done...
At this time though, pressure is up until $104 is broken. Good Luck my friends! And remember, I don't control price, I only state what I think it will most likely do next . Until price proves my count right, it is just a prediction , not a fact.
The turquoise count is my ALT and it is of a more immediate bearish trend. It suggests that the weakness shown after the earnings were released was just the beginning of this decline. It is less likely than my black count, but regardless it is still a possibility and must continue to be considered until price breaks $122.69 to invalidate that count.
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Why does Amazon look so bad? 😖 And what expect until end of 23? In period 2021-2022, the entire Sp500 index was pulled by FAAMG (Facebook, Amazon, Apple, Microsoft, Google).
Of all these five, Amazon looks weakest. Let's see why?
Amazon is engaged in Internet commerce 🌐
During the pandemic, the company felt great, as many people were forced to stay at home and order goods online.
However, covid ended and benefits stopped.
During period of low rates, people got into loans even more strongly.
Now that the key rate is >5%, it becomes very difficult to obtain and service loans.
As a result, people's incomes have dropped dramatically around the world 📉
Yesterday in an interview, Bill Gates said that development of artificial intelligence will greatly change the industry of searching for information and shopping on the Internet.
That is, the head of Microsoft says that because of AI, the business of Google and Amazon will not be sweet 📉
In general, such a situation does indeed take place.
Therefore, in a year or two, the familiar abbreviation FAAMG may become: FAM.
You can find even more profitable ideas in the profile header 🎩
If you are interested in analysis of any other asset - write in the comments and I will do it.
Amazon withdrew from the Chinese marketAmazon announced that its withdrawal from the Chinese market was attributed to fierce competition from domestic rivals such as Alibaba and JD.com, regulatory challenges and changing consumer habits. In addition, Amazon faced difficulties gaining market share in China, where local players with a deep understanding of the market and strong logistics capabilities dominate e-commerce, despite its withdrawal from the domestic marketplace. As a result, Amazon announced in June last year that it would end the operation of the Kindle e-bookstore in China on June 30 this year. After that, users cannot purchase new e-books. At that time, the incident attracted market attention, and China's Ministry of Commerce also responded to this, saying that this is a normal phenomenon in a market economy. The outage in the Chinese market will not affect its operations in other regions, and other users can still obtain the required applications through the Amazon App Store.
Relevant news may affect short-term stock price performance, but the long-term trend has little impact. The reason is that Amazon has withdrawn from the Chinese market, which has a relatively small impact on business operations and income. From another perspective, after Amazon starts from the Chinese market, it will concentrate its resources on other Asian regions and emerging market countries, which will have more room for future enterprise development, cost control and marketing. According to the stock price performance of Amazon on the Nasdaq market in the United States on May 23, the impact was less than 0.1%. Assuming that the U.S. debt ceiling negotiations do not have much effect on the market, it is estimated that Amazon's stock price may find support in the red range in this chart or develop upward in the blue price range.
AMZN - a short short is coming?In recent times, the stock price has been increasing exponentially, but it appears that the RSI level of 70 (purple line) has halted the upward momentum. If the uncertain market sentiment continues, the stock may weaken towards the lower Bollinger Band (orange line) and the 50-day moving average (gray line), reaching approximately 107-108 (green circle).
It is important to note that during this period, the 200-day moving average around 104 (turquoise line) and later the lower RSI level, in the case of a steady decline, at approximately 100, could provide support for the stock price.
However, everything can be overridden by the debt ceiling agreement and the FOMC meeting, of course.
Amazon Amazon stock broke out of the downtrend and looks like it just entered a uptrend. A minor retracement should occur for me to even consider placing buy positions.
AMZN TSLA NVDA MSFT GOOGL AAPL Technical Analysis Guide- Most tech stocks are still in a healthy daily uptrend but most are testing its support area.
- the size of the pull back will be key for me to determine if we have more fuel for these stocks on the upside
- larger pullback size will allow bears to make moves on the next bounce
$AMZN Still strong, a pull back and reversal back up (?)Decent shooter on the 2D could signal a pull back on NASDAQ:AMZN , would be nice to see a reversal move up further North.
With Monthly OPEX for May behind us, see how it moves from here.
AMZN strong, but not the ultra strong move AAPL had so far on the year. Also giving it more potential before it reaches exhaustion risk like AAPL at current levels.
No FOMO, no chasing for me. Definitely looking for to long AMZN IF this scenario will unfold.
IF this THEN that.
IF not, also fine. There will be hundreds if not thousands more trading opportunities. As long as you stay in the game. Hence, patience.
AMZN breaks upward during upward trendAMZN has made a very Bearish signal by breaking out upwards during an already bullish trend. This creates an unsustainable climb requiring a course correction downward.
Once a trend has been defined up, if the stock breaks out of resistance line above, then it is very likely to fall.
In reverse, if the stock breaks below a doawnward trend, expect a bounce to follow.
Amazon , Buy opportuinty Uptrend
In my opinion, a new uptrend starts after breakout of a descending trend line and also passing a major pivot. Amazon has both conditions and I've started to buy it.
AMZN Entry, Volume, Target, StopWhen price clears: 114.00
With daily volume greater than 158M
Target: 139.50 area
Depending on your risk tolerance: 105.50 gets you 3/1 Risk/Reward.
Resistance: 121 area & 136 area
This trade idea is not trade advice. This swing trade idea is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
Update on long term hold chart for $AMZNFor reference:
NASDAQ:AMZN Now at healthy 27% unrealized gain with possible expansion towards a next target of $130. Closing 15% of total position size as we can expect to see a small rejection at the $118 range as shown by the first arrow.
#$AMZN Uptrend or ABC correctionNot financial advice.
# NASDAQ:AMZN will see if this is a Fibonacci uptrend move or just an ABC correction.
so far it seems like is on the move to confirm wave 3. But time will tell.
# NASDAQ:AMZN #Subscribe if you #like my work.
Thank you!
Possible Amazon BreakoutAmazon has been trading in a downward sloping channel for over a year now and yesterday the price closed above this channel trendline. However a drill down into the hourly chart shows some divergence on the RSI that I think could indicate that this might become a false breakout.
I'm yet to be convinced the rally is a trend shift.
AMZN AnalysisPrice playing out nicely as analyzed last week. Price has taken the highs at 114.00 and is currently mitigating the bearish POI. No changes from last week, I'm expecting price to fall from here if we get a confirmation on the lower timeframe.
Amazon -> Finally BullishHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Amazon stock is currently breaking above a major previous weekly structure area exactly at the $105 level which is now turned support.
You can also see that over the past months, Amazon has been creating a solid double bottom, weekly market structure and moving averages are also very bullish, so I am now just waiting for a retracement and then I do expect more continuation towards the upside.
On the daily timeframe you can see that with today's candle, Amazon stock is perfectly breaking above a major previous daily resistance area at the $112 level which is now turned support so I am now just waiting for a retest and then I am looking to get long on Amazon.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
$AMZN - Break of StructureThis market has recently picked up my attention not only because of that ascending triangle base, but also because of its context.
Firstly, let's not forget that this market has been trading below a downward sloping 10 EMA, since the beginning of 2022. Therefore, by default, the bias has been to look for a short opportunity, a set up agreeing with the major trend, a downtrend.
However, that July 2022 bullish candle, with an overwhelmingly above average size, should have been scary enough to leave the bears in this market uncomfortable, at the very least. Yes, bull runs also happen in downtrending markets, but their momentum and candle size tend to be a lot more shy, at least if the bearish dominance in the market is healthy.
Still no bullish trade after that, unless you didn't know what you were doing.
Thereafter the price tested but respected the 10 EMA twice, to resume its downtrend, but this time, the new lower low nearly came with an RSI bullish divergence. Another oversized bullish candle erupted in Jan 2023, concluding a bullish kicker signal candlestick pattern, unveiling once again the presence of the bulls in this market.
And once again, price below the 10 EMA, so you don't want to be bullish on this market ... but now you had 2 above average bullish candles in this market ... would you really feel convertible on the bearish side here? With so many other markets out there, where you can step in once it becomes highly likely that the contrary forces have a weak presence in that market , why would you risk it for ambiguous scenarios?
Only this time, look at the profile shift in this market. Strictly from a price action perspective, look at how the dominant color in this market became green instead of red.
And this ascending triangle pattern took from under the described context.
What's so special about this market that earned it this whole text? A breakout from this base just popped up.
A breakout, which, if sustained, also entails a breakout above a key EMA, which has been respected by the price. And also a breakout which entails a rupture with the previous market structure (lower highs and lower lows) and transition to a new one (higher highs, higher lows - or just a range, we'll see) where bullish trades could become our bias.
Before all the bulls out there jump with joy, remember that the month is still going through its equator. But if the breakout holds and closes, this might as well be a trigger for a bullish trade like the one displayed on the chart ... always with the utmost and paramount respect for sound risk management principles.
Cheers,
Tenacious Tribe - Back Tested Trading Strategies & Studies
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TRADE PLAN FOR AMAZONHi Traders, Another opportunity to buy and hold Amazon for profits. time to shop.
Tradehubng.
Potential base pattern on AmazonWe have identified a potential base pattern on the Amazon share price that will complete on a close above 114, the reaction high that we saw in January.
A close above 114 would complete the base an offer a potential upside target of 147.
One to watch!
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Amazon to gold ratioThis chart shows Amazon stock to gold ratio. There is a clear head and shoulders pattern visible however currently there is a potential trend reversal triangle pattern emerging.
