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Bullish- Long Play

Oleh jacobosiason7
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AMZN has been consolidating in this channel for quite some time now and is forming what appears to be a very clear bullish ascending triangle off of a long-term uptrend line. As most already know, the DIA posting its worst week since October posting a 3.5% loss on the week with the SPY and NDAQ following posting losses of 1.9% and 0.2%, respectively. By no means is this a short-term play, however, certainly will be watching closely for a breakout at the end of this ascending triangle. The last time AMZN was consolidating in a parallel channel like this one we saw a breakout to new highs, AMZN has prime day coming up as well as earnings on 7/16' which could both serve as a catalyst for a nice run. Broader market conditions permitting-

PT1- $3,750
PT2- $4,000
PT3- $4,115
Dagangan aktif
AMZN hitting new ATH's
Nota
Price Target 1 reached
AMZNascending_trianglebreakoutChart PatternsDIATechnical IndicatorsNDAQparallel_channelParallel ChannelSPDR S&P 500 ETF (SPY) Trend Analysis
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