AMZN is trapped in a Rising Wedge formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a support line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start of a new trend. It may also be that this convergence factor may result in the ideal setup for swing traders that are on the lookout for a possible bounce-back. Whatever happens, an initial move towards 224.4580 is expected in the short term.
Related Posts
If MSFT touches 514.9850 it may be time to take action.
MSFT is moving towards a resistance line. Because we have seen it retrace from this level in the…
INTC hits 20.4100 after a run of 6 consecutive 4 hour candles spanning 6 days.
Due to the rate of consecutive bearish candles on INTC 4 hour chart we could be in for…
V is signaling a possible trend reversal on the intraday charts with price not breaching resistance.
Emerging Triangle pattern in its final wave was identified on the V 4 hour chart. After a strong…