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Amazon: Are we at a good buying level? We look to Buy at 3408.30 (stop at 3307.80)
Amazon - Short Term - We look to Buy at 3408.30 (stop at 3307.80)
Daily signals are bullish. Closed above the 200-day MA. Trend line support is located at 3335.00. 3300.00 continues to hold back the bears. This is positive for sentiment and the uptrend has potential to return. Further upside is expected and we look to set longs in early trade.
Our profit targets will be 3750.40 and 3850.00
Resistance: 3500.00 / 3750.00 / 4000.00
Support: 3300.00 / 3200.00 / 3000.00
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Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.