Hi guys, I'm not gonna write a lot about Amazon because if you follow me you'll Remember what I've been write in my past Idea and you can see that my thought was correct, but if you not following me that's fine I'll rewrite quickly again what I've been said.
In my last idea which called (AMZN: Flipping), I said: "The price on the general in this month will be flipping in a flat way (sideways) between $2050.29 and $1878.57 levels. "
and this is exactly what happens, the price after hitting the highest point, then the price pullback to looking for a strong support and I've been write In my past Idea I've written called (AMAZ: The Support) that: "Last week $AMZN price powered by "Bump and run pattern" made a Higher high of all time and for sure we gonna put in the same level a resistance line, Now the price will be looking for a strong support level , If the price willing to break the support level of the 'Mini-Channel' I believe it will bounce back at 1878.57 / 1850.75 levels."
And what happened? The price actually stops moving down at $1878.57 levels.!
Now, as i said I'm not gonna write a lot about Amazon but i wanna add that the price now at $2003 and i don't think it will keep going up to hit the $2050 level's because if you take a look at the stochastic you can see that the price in Overbought so technically it needs to get back little bit so it can keep moving up and we need to move down about 1.70% so we can touch the 20MA line & the trend line and then the price can back for up movement's.
Amazon stock like water when it comes to expecting the future of it "Clear and Clean".
So yeah, this is "my thought" about Amazon for the Next first week of Oct, To the Next Sunday, have fun.
In my last idea which called (AMZN: Flipping), I said: "The price on the general in this month will be flipping in a flat way (sideways) between $2050.29 and $1878.57 levels. "
and this is exactly what happens, the price after hitting the highest point, then the price pullback to looking for a strong support and I've been write In my past Idea I've written called (AMAZ: The Support) that: "Last week $AMZN price powered by "Bump and run pattern" made a Higher high of all time and for sure we gonna put in the same level a resistance line, Now the price will be looking for a strong support level , If the price willing to break the support level of the 'Mini-Channel' I believe it will bounce back at 1878.57 / 1850.75 levels."
And what happened? The price actually stops moving down at $1878.57 levels.!
Now, as i said I'm not gonna write a lot about Amazon but i wanna add that the price now at $2003 and i don't think it will keep going up to hit the $2050 level's because if you take a look at the stochastic you can see that the price in Overbought so technically it needs to get back little bit so it can keep moving up and we need to move down about 1.70% so we can touch the 20MA line & the trend line and then the price can back for up movement's.
Amazon stock like water when it comes to expecting the future of it "Clear and Clean".
So yeah, this is "my thought" about Amazon for the Next first week of Oct, To the Next Sunday, have fun.
