The Long Investor
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$AMZN TOP 20
🕑 Added 2025-02-23 14:02:11 +0000 UTC$AMZN has been a surprise here with a flush down on Friday, losing the green support level and 50 Day MA now, we saw this flush down happen in August too and the RSI sank down to below 30....this was a signal for us to add and we did at $160 and the price recovered immediately and ran then for 6 months.
I will be giving the price action time this week to try and recover the green support level or the 50 Day MA between $220 - $224.
A rejection at $220 and this can drop down to the 200 Day MA just below $200 right now.
$AMZN is a core stock for me and I intend to hold it for +5 years....so any opportunity to load $AMZN in the $140's after completing its ABC correction is something I will be taking advantage of.
Comments
Jeff Vox
Are we now heading toward the bear levels, and Wave 5 has already happened?
