FAKE OUT, OR BREAK OUT?
Definitive down trend confirmation since topping in late JAN and then a hard rejection and move down in MID FEB.
I believe we have a bottom in early April and are beginning to set a new trend up, but could be a fake breakout and continuation of Down trend.
PREVIOUS NOTE (LISTED ON CHART from MID FEB)
RED HORIZONTAL LINE
"2021 resistance HEAVY. Now could be HEAVY support?
Down trend continues on close below red horizontal line.
Keep going to re-test rectangle.
Double confirmation above higher down trend line signals reversal to retest $218.50 up at"
New potential channel has it trying to break above that red line and rejecting slightly..
rebound this week and close above red horizontal??
OR
Head down to $171-172.50 range to test bottom of potential new channel.
For now.. WAITING to see what this week brings
Checking for next week right before fed meeting, trade deals being announced etc. Big impact on Amazon
NUETRAL.
Would love to hear thoughts.
DISCLAIMER:
This is not for TRADING
This is specifically for DCA in @ solid buy levels building portfolio over time long term.
Last purchase @ $165.50 on dip.
Looking for next entry.
Definitive down trend confirmation since topping in late JAN and then a hard rejection and move down in MID FEB.
I believe we have a bottom in early April and are beginning to set a new trend up, but could be a fake breakout and continuation of Down trend.
PREVIOUS NOTE (LISTED ON CHART from MID FEB)
RED HORIZONTAL LINE
"2021 resistance HEAVY. Now could be HEAVY support?
Down trend continues on close below red horizontal line.
Keep going to re-test rectangle.
Double confirmation above higher down trend line signals reversal to retest $218.50 up at"
New potential channel has it trying to break above that red line and rejecting slightly..
rebound this week and close above red horizontal??
OR
Head down to $171-172.50 range to test bottom of potential new channel.
For now.. WAITING to see what this week brings
Checking for next week right before fed meeting, trade deals being announced etc. Big impact on Amazon
NUETRAL.
Would love to hear thoughts.
DISCLAIMER:
This is not for TRADING
This is specifically for DCA in @ solid buy levels building portfolio over time long term.
Last purchase @ $165.50 on dip.
Looking for next entry.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.