The weekly perspective for AMZN shows a rise occurring within a contracting wedge pattern, and we can see the most recent weekly bar has touched the patterns resistance. Note the overall movement and how it has respected / bounced between the horizontal dashed Fibonacci levels. On the daily chart the last daily bar gapped open […]
AMZN large potential consolidation after breaking up through expanding wedge. Potential for another wave down, back to channel support. Several potential trigger considerations IF the market starts heading back down, $678.25 being the most aggressive. If the larger positive trend continues, breaking past previous highs ($725.50) would have us looking towards the next projected levels.
