The Long Investor
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$AMZN TOP 20
🕑 Added 2025-04-06 17:44:13 +0000 UTCI added $AMZN on Friday for a few reasons
I like the strong pull back so far in between the 0.38 - 0.5 Fib range, which is standard for a Wave A pull back
I believe it is the strongest Mega Cap in the market
The market has only given us 3 waves so far on this pull back, so there is still a possibility that this entire pull back (although very fast and harsh) could still bounce back sharply if Trump sorts out this Tariff mess quickly.
So at the very least I believe there is a Wave B bounce from the 200 WMA back up to the 50 WMA at $200 next at the very least.
I also intend to add heavily at the Wave C level under $150, so adding on Friday is around a level I can work with to manage my average.
Remember we don't want to time the bottom, we want to manage our average.
And an average of around $160 is something I would be very happy with to hold for long term.
