AMZN broke out of a long term consolidation phase and is starting a massive rally.Every major consolidation is followed by a major breakout. And if the overall trend is bullish, a bullish breakout is more likely to happen. Last month Amazon finally broke above a multi year resistance level and is now heading back to the top of the rising channel formation. If we actually get a retest of the breakout level, you can then simply enter a long position.
Levels to watch: $180, $380
Keep your long term vision,
Philip - BasicTrading
Note
Quick update on Amazon:We already saw a breakout on Amazon with the monthly candle of June closing above the long term horizontal resistance. Momentum is clearly slowing down though; let's hope Amazon doesn't break below the support level again this month.
Levels to watch: $200
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👇🏻Free: SwingTrading-Academy
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SwingTrading.Simplified.
Investing.Simplified.
#LONGTERMVISION
discord.gg/jgdrYXwqyD
SwingTrading.Simplified.
Investing.Simplified.
#LONGTERMVISION
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.