Amazon has been consolidating for almost 10 months.
Today's news of a big beat on earnings and guidance has taken us to the top of the consolidation range.
It is a classic move for stocks that have been consolidating for a long time, to make a strong move upward before consolidating again.
Making a measured move from the last time it did this, we get a potential target around $5000 in a 4-5 months time-frame.
To avoid a failed breakout, I would keep on eye on the MACD trend, which has turned positive, but should continue to rise to confirm the move up.
Today's news of a big beat on earnings and guidance has taken us to the top of the consolidation range.
It is a classic move for stocks that have been consolidating for a long time, to make a strong move upward before consolidating again.
Making a measured move from the last time it did this, we get a potential target around $5000 in a 4-5 months time-frame.
To avoid a failed breakout, I would keep on eye on the MACD trend, which has turned positive, but should continue to rise to confirm the move up.
Nota
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.