Amazon (NASDAQ: AMZN) is Strong on a Long Term Basis
Amazon (NASDAQ: AMZN) is Strong on a Long Term Basis, but weak on a Near Term Basis. Which should we believe?
Review the Trading Plans:
Long Term Trading Plans for AMZN
April 26, 2018, 8:56 am ET
The technical Summary and associated Trading Plans for AMZN listed below will help you make important timing decisions for your trades. This data is based on our proprietary analysis for AMZN. In addition we offer Market Timing Models and Stock Filters in the links above which may increase the proficiency of the decisions you make.
AMZN - (Long) Support Plan
Buy over 1408.37 target 1564.59 stop loss @ 1408.11.
The technical summary data tells us to buy AMZN near 1408.37 with an upside target of 1564.59. This data also tells us to set a stop loss @ 1408.11 to protect against excessive loss in case the stock begins to move against the trade. 1408.37 is the first level of support below 1460.17 , and by rule, any test of support is a buy signal. In this case, support 1408.37 would be being tested, so a buy signal would exist.
AMZN - (Short) Resistance Plan
Short under 1564.59 target 1408.37 stop loss @ 1564.85.
The technical summary data is suggesting a short of AMZN as it gets near 1564.59 with a downside target of 1408.37. We should have a stop loss in place at 1564.85 though. 1564.59 is the first level of resistance above 1460.17, and by rule, any test of resistance is a short signal. In this case, if resistance 1564.59 is being tested, so a short signal would exist.