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Amazon Trading Analysis (08/10/2024)

08.10.2024

Market Review

The trend is ascending. The stock is trading in a range between 365 and 135 ЕМА. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.

Trade idea:

Buy at the beginning of the formation of the ascending wave structure, when wave A breaks the sloping channel of the descending truncated structure.
Stop-loss at 180.20.
Price targets at 191.80 and 194.20.

#amazon #stock #tradersroom #daytradingpatterns #forexexpertadvisor

Author: GC

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