The Long Investor
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$AMZN TOP 20
🕑 Added 2025-02-16 19:28:54 +0000 UTCIn last weeks update I said that a pull back to the 50 Day MA slightly above the 0.618 Fib is the likely direction next and that is exactly what happened this week, the price then held on this MA to finish the week.
The $SPY and $QQQ are testing their top lines now and could break out from a positive reaction to $NVDAs report in about 10 days.
I think this would allow $AMZN to bounce on the 50 Day MA and complete Wave 5.
I am not seeing weakness here, I am seeing a retest of support.
$AMZN is my second biggest position and I have no intention to reduce my position here.
Comments
Joel (ASTS Fan Club)
Thanks Cap, thinking after ABC too
Gareth Neary
about +10% on the table here, any large buys from me will be made after the ABC correction completes
Joel (ASTS Fan Club)
As someone who wants entry into Amazon, best waiting for ABC after Wave 5? Or a potential buy here?
