In February while the price was still $2,000 we issued a buy recommendation on AMZN to $2,800 - 3,200:
In fact we were after the $3,000 target since December 2018 while Amazon was almost half of what it is trading at now:
We are at the top of that Target Zone now and the 1W chart is once again showing exhaustion signals. It is not the overbought technicals (RSI = 84.087, MACD = 241.970, ADX = 60.038), but primarily the fact that the RSI has entered the red exhaustion zone which in July 2015 called for a pull back and two month consolidation.
Our suggestion is to buy next month again and target 3,500 - 3,890. That is where we expect the next pull back (to the 1W MA50 potentially) to take place.
** If you like our free content follow our profile to get more daily ideas. **
Comments and likes are greatly appreciated.
In fact we were after the $3,000 target since December 2018 while Amazon was almost half of what it is trading at now:
We are at the top of that Target Zone now and the 1W chart is once again showing exhaustion signals. It is not the overbought technicals (RSI = 84.087, MACD = 241.970, ADX = 60.038), but primarily the fact that the RSI has entered the red exhaustion zone which in July 2015 called for a pull back and two month consolidation.
Our suggestion is to buy next month again and target 3,500 - 3,890. That is where we expect the next pull back (to the 1W MA50 potentially) to take place.
** If you like our free content follow our profile to get more daily ideas. **
Comments and likes are greatly appreciated.
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.