$AMZN Is Setting Up for the Next Entry
I sold my $Amazon.com(AMZN)$ shares in August before the pullback, and I’m now watching for my next entry.
Previously, when price pulled back into the institutional buy zone, Amazon typically formed a new swing high within two to three months.
If that pattern continues, price could move roughly 20% higher toward $290 between the end of November and December.
According to my system, Amazon is currently an early buy.
However, if I were looking for the optimal entry, I would set an alert around $240, near the daily smart money zone.
After the major earnings rally, price has pulled back and compressed nearly 15% over 52 days.
I’m glad I sold when I did, and I’ll be watching for an opportunity to get back into this name soon.
Markets are always moving - and sometimes, the best move is knowing what works for you.
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