Watching Amazon closely for the breakouts of the micro and macro patterns. Micro level is looking ready for a breakout. On the macro level, we can see that AMZN has been consolidating for the past 4 months, denoting that the stock is ready for a healthy move. Earnings will be released on January 28 after market, and the herd bias is that the EPS estimate of 7.15 will be beaten as the Black Friday and the Holiday Sales will be accounted for. Beware of the gap to 3116. Make sure the market is showing strength in the direction of the breakout as well as an increase in volume for AMZN. Cheers!
*The idea above is my own opinion and does not serve as any kind of investment advice. Please do your own due diligence.*
*The idea above is my own opinion and does not serve as any kind of investment advice. Please do your own due diligence.*