AMZN.US - D1
Our expectations - Up trend and price after correction to levels of strong support. Possible Long-Trade with SL: 1781.75.
Alternative Scenario: If the price goes below the support zone and stays there, the positive scenario will be spoiled and more likely to see a decrease in Amazon's price.
Comment - The levels are comfortable for positioning with long, but it's good to wait for a confirmation signal from the indicators. For this reason, it's a good idea to put Amazon in our Watch List and watch how the trading sessions will be completed by the end of the week. What do we have at the moment? Price in the long-term uptrend and after correction to key support levels formed by a basic diagonal horizon, and 23.6% Fibonacci correction of the main trend. Price Action: Morning Star formation of key levels of support. 50 and 200SMA remain in the formation - the trend remains in place. Indicators: Sequential counts 6 from 9 below - impulses are likely to descend before the end of the corrective movement. DeMarker enters an over-sales area but does not report Long.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.