March 18, 2019

Amazon Is Going To Amazon

Amazon has FINALLY broken out of its daily channel. Coupled with extension beyond the 200-day SMA. So several strong resistance points were broken by buyers and Amazon is back to normal. Making straight up moves without concerns. If buyers continue to rollover sellers here in the near term, we COULD see AMZN closer to 1900 than 1700 by the end of the month. It is VERY UNLIKELY that will be the case but the potential is undeniable. Keep an eye on AMZN in the very near term. If they get above $1750 and HOLDS this range, then $1900 per share is closer than it may appear.

about the author:

Charles Moon

Charles Moon is a technical "whiz kid" whose experience lies in scalp/swing trading. A patient educator, Charles excels at coaching/mentoring and can make complex concepts simple. Prior to joining the ranks of Prosper Trading Academy, Charles was a proprietary equities trader with Great Point Capital LLC. Coming from a retail trading background, his experience can help those with no experience trading to seasoned veterans.

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