Evan_Moe_Money

Amazon is a buy

Long
NASDAQ:AMZN   Amazon.com, Inc
So...

Amazon just had a big correction the last couple weeks. As we can see on the top chart (daily), in the past the price did this: raise to a new high, corrected once, came half to the level of the previous high, corrected a second time, AND THEN there headed straight for a new high.

If this pattern continues, we should be on our way to a new high. Why? Well, we had a high, price corrected, went back up, corrected again, and now is raising again.

My entry trigger is the break of the new high. Since amzn is really expensive I am looking for some other tool where i can sill profit from a new amazon rally.

My initial SL will be around 949.00 but will be trailed quickly, as this is a huge risk.

Any thoughts? Critisism?

Leave it in the comments!
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