Amazon Trading Analysis (08/10/2024)
The trend is ascending. The stock is trading in a range between 365 and 135 ЕМА. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.
Trade idea:
- Buy at the beginning of the formation of the ascending wave structure, when wave A breaks the sloping channel of the descending truncated structure.
- Stop-loss at 180.20.
- Price targets at 191.80 and 194.20.
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