Now, for a comparison, is the chart for AMZN (Amazon) using the same indicators as I explained for GOOGL (Alphabet).
There is less aqua color for AMZN.
You can see that AMZN has been moving sideways, which we call a consolidation.
If the chop zone color for AMZN remains aqua, then I believe AMZN will once again resume its long term up trend. In this instance, some technicians call this a "catch up trade".
When the up-trend resumes, use a 9 day, 20 day, or 50 day moving average as your support.
BTW, I own both stocks and intend to keep them as "long term investments".
Today’s market wisdom:
1. "Don’t blindly follow someone, follow the market and try to hear what it is telling you."
--- Jaymin Shah
2. "The market is a device for transferring money from the impatient to the patient.”
--– Warren Buffet
Don.
There is less aqua color for AMZN.
You can see that AMZN has been moving sideways, which we call a consolidation.
If the chop zone color for AMZN remains aqua, then I believe AMZN will once again resume its long term up trend. In this instance, some technicians call this a "catch up trade".
When the up-trend resumes, use a 9 day, 20 day, or 50 day moving average as your support.
BTW, I own both stocks and intend to keep them as "long term investments".
Today’s market wisdom:
1. "Don’t blindly follow someone, follow the market and try to hear what it is telling you."
--- Jaymin Shah
2. "The market is a device for transferring money from the impatient to the patient.”
--– Warren Buffet
Don.
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.