The Long Investor
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$AMZN TOP 20
🕑 Added 2025-04-20 10:37:32 +0000 UTCThe issue with a lot of the bounces since the 7th of April, across the Mega Cap's and the markets is that they are not moving in an impulse nature (moving in 5 waves)
This tells us that a lower low below the 7th of April low is still possible, meaning Wave A could still be active.
With $AMZN, below the 0.5 Fib, the support level held on the 7th of April is the Buy Zone for me, so anytime the price enters this zone, I am adding, this is something I am strict on with $AMZN.
Yes they have a lot of exposure to the Chinese tariffs and it is putting pressure on the stock but this short term issue will be resolved for $AMZN and I want to build a large position here when the share price has dropped.
Not many people thought $AMZN would be at $160's when the share price was at $242 in Feb but we have always maintained that any chance to add $AMZN after a strong pull back and we will add aggressively.
The 200 WMA is at $152, I want to manage my average so that it is around $152, so my buys will have this in mind.
Comments
Matthew Huntley
I cannot wait to buy more of the stock at a lower price!
