AMZN still on target for new ATH 189? Looks good still!
Price action update (24 Feb 2024)
- Breakout from earnings have been in an island past weeks
- Island reversal signs are not that strong (also given that AMZN will now be added to DOW30)
- Resistance zone appears at 175/177
- Overcoming it has a relative easy path to new ATH 189
- Previous try to breakout of island has come back in
- We are now in the 2nd try
Bullish
- Follow through on the island breakout and overcome 177
- Next target is 182 and then 189 (new ATH)
Bearish
- Break back into island range and then break below 164 (which is also 50% gap fill from earnings)
My Plays
- Have been nibbling shares some months back and will continue to do so if there is confirmed break out of island
Good luck, all!
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