Sunday, August 1, 2021

$AMZN to $26/share

Zoom way out on $AMZN and notice its rise from nothing, a triangle, and a spike to the heavens.  Everyone's rich in Seattle now and there are condos and ridiculous restaurants in neighborhoods that used to be quite dodgy, full of junkies with needles in their arms.

Is that spike a bearish wedge?  Are its legs actually triplets and not 5-wave impulse moves?

A full retrace of this epic boom would bring it back to $26/sh. 

What kind of crisis could bring this about?  Where would other equities find themselves?

$AMZN weekly bearish wedge


Bryan Franco said...

Seattle rocks. If this should become $AMZN's fate, it can always change its ticker to $FLNL.

Randall Beehomes said...

AMZN is a zero.