AMZN = LONG @ 764.42.

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eganon69

Just went LONG AMZN at $764.42 with Stop Loss at $754.42. Again I don't usually post live trades but think this one is needing to play catch up. It's at major support. Will post chart later today.
 
Please be careful brother.

With the fed interest rate rise, and hawkish statements about three more raises this year, the Powers at Be may be putting the brakes on.
 
I appreciate all the comments. I have a tight stop here. Hopefully not too tight of a stop. But I see major support from a rising trend line around $760. I also see a rising wedge on the Hourly charts which is a bullish formation. Also the stock has had a major (~15%) retracement from recent highs and there is clearly a bull market going on. This stock should bounce off support here. There is also horizontal support at $755- $758 range extending back to May 2016. This drop is also looking like a large Bull flag. Finally there is a Bullish Divergence on the Hourly chart MACD. I could be wrong and we could have a major drop with a relative free fall if prices go below $750. In fact prices COULD retrace to $750 and still maintain the UPTREND. But with a recent bounce off the trend line support and bullish price formations I think Reward is much greater than Risk. I see prices going to a low of $800 & a high of $860. With a $10 stop loss and $94 higher price target R:R = 1:9.4. Could not pass up the tradentire even though so far it's losing a little.

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I think you'll do well with AMZN over the next few months. It's looking bullish. North of $766. is showing only light overhead resistance. By the looks of it's pattern, it might be a candidate for a quick $20-25 pop and hopefully trend upward to a breakout from there to $900 plus area. I'm wondering why the Christmas season doesn't coincide with a higher pricepoint/peak. The $847. peak occurred back in Oct 2016. I would have thought that the 2nd half of December/Christmas would show stronger, as I would expect the highest sales of their cycle would occur at that time. But perhaps that peak could still occur very soon.

I saw this article on Amazon today: This guy is saying targets as high as $960 - 1125. in 2017.
http://www.thecountrycaller.com/752...t-merrill-lynch-on-strong-retailcloud-growth/
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Gasper said:
I think you'll do well with AMZN over the next few months. It's looking bullish. North of $766. is showing only light overhead resistance. By the looks of it's pattern, it might be a candidate for a quick $20-25 pop and hopefully trend upward to a breakout from there to $900 plus area. I'm wondering why the Christmas season doesn't coincide with a higher pricepoint/peak. The $847. peak occurred back in Oct 2016. I would have thought that the 2nd half of December/Christmas would show stronger, as I would expect the highest sales of their cycle would occur at that time. But perhaps that peak could still occur very soon.

I saw this article on Amazon today: This guy is saying targets as high as $960 - 1125. in 2017.
http://www.thecountrycaller.com/752...t-merrill-lynch-on-strong-retailcloud-growth/
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More...

Yes I saw that article. I think the longterm trend could mean it goes as high as $1200 as well but nearterm I'll take $800 first and then $860. I have a tight stop so we will see if its profitable trade. I suspect if it breaks out about $775 it will be very profitable. Time will tell.
 
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