Amazon shares has dropped 46% from its peak and the recent breakout from resistance turn support level at 101.57 was met with a bearish candle close last Friday. If this support level fails to hold the price, we can expect it to head further south towards 80.92 level.
All eyes are now on Fed's chairman remarks this coming Wednesday and the basis cut in interest rates that will be announced.
Watching these levels closely and time my LONG entry
All eyes are now on Fed's chairman remarks this coming Wednesday and the basis cut in interest rates that will be announced.
Watching these levels closely and time my LONG entry
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added LONG
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Praise God
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122.47 could be the support level it would revisit before staging a rebound. Awaiting patiently....
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Praise God
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sadly, the selling pressure has not eased much despite investors are awaiting for a Christmas Rally......looks like they are going to be disappointed as there are only a few days before the year ends
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nibbled some last night . Could this be the bottom ? Haha, your bet is as good as mine .
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8% fall in share price last Friday. Hmm.....interesting......It still closed above the 101.57 resistance line which is positive news. Let's wait for next week to see if the share price can hold above or go further south before accumulating more....
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notice the last candle closed last night with a very short body? It could signal the selling pressure has eased and a reversal pattern is about to come, hopefully tonight if not early next week. Those who keen to go for this stock can buy in tranches rather than stubbornly awaiting at the support level of 80.92. It may or may not comes to this level and you would have wasted a good opportunity to go long just because of this difference. Always ask yourself, are you in for the long term or just want to get in for a short term ride ?
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added some last night
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we can see for the last 6 months, the price action seems unable to break out above the resistance level at 101. If the inflation report coming in this week is going to disappoint, the overall market is likely to head south.
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watch out tonight.....it has finally break out above the resistance line, this is good news.
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hope it will retrace next week as the recent rise has been quite strong.
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praise God for its steady climb
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