AMZN is sitting right at $200—the bottom of our weekly market bias
$Amazon.com(AMZN)$ is sitting right at $200—the bottom of our weekly market bias.
For the past two years, every dip here has bounced. Even in August 2020, when we broke briefly, we fully reclaimed.
Now, the daily BX is making higher lows and has turned green—our first sign of a short-term bounce.
I’m looking to go long here with a target of $220, offering a 3:1 risk-reward.
Best case? A breakout to equal highs—a 20% move and a 5:1 risk-reward.
Trading bots will stay live for Amazon this week.
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