Today I’m going to post some charts on a few trade setups that I’m focused and may provide a trade or two over the coming sessions. One of my past stock analysis was about my short position in AMZN that has now reached a level where I’m neutral now. Below you can find the stock charts I’m looking at.
Looking to trade the upward sloping wedge. Bullish as long as price is above the lower boundary.
Bearish as long as price is below 80$ inside the downward sloping wedge. This stock could be traded at first on the bearish scenario for a push towards the lower wedge boundary and could also be traded on a bullish scenario if the wedge is broken upwards.
Rising wedge, waiting for 65$ to be broken to take the short side and target 55$
Has broken the bullish channel and expect to see it reach low 70’s at least as long as price is below 82$
Bullish as long as price is above 29.49$.
These are just a few ideas. Thank you for taking the time to catch up on my thinking. All of my trades including US stocks are sent through sms to my subscribers. You can also read our past results here.