Hi folks!, How you doing?.
Today I will analyze AMZN. Yesterday the company corrected and in my opinion, Actually we have the chance to buy this stock.
Let´s see the Chart.
Suports and Resistances:
S1:$325 S2:$305 R1:$345 R2:$364
As you can see the price is moving inside a simetrical triangle which will will make a break-out at the end.
In addition to that, the price is inside an uptrend channel, and is close to the low line.
During the last sesion the MACD crossed the signal, and the RSI crossed the 50% too, Actually is at 45%.
The stochastic is entering into the oversold zone.
Elliott waves: In my opinion the price is developint a terminal zig-zag pattern. So I think the stock will go up soon.
BUY RANGE: [$325;$333,57]. Yesterday the price went into the buy range. So in my opinion it´s time to buy.
Actual targets:
TG1:$343.54 Tg2:$360.80 TGExt:$378.58
It´s true that the stock crossed the 200SMA, but it was the Elliott´s zig-zag pattern.
Finally I have to say that this is a good company. Recently AMZN has annonunced a drone Store, and is trying to enter its Fire phone in the UK market.
And that´s All!! Have a nice Day!
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