Amazon W (fAang group)
No.2 Amazon (fAang group)
Short: Target 2700$ EMA50D (20% drop)
Wave (III) within monthly timeframe is ongoing
1. The stock rallies very fast and smooth (without any sharp corrections) what makes difficult to count the waves within daily timeframe
but
2. The stock is overbought more than the drop of Feb-March 2020 and is currently on historical overbought levels according to daily and weekly timeframes
Short: Target 2700$ EMA50D (20% drop)
Wave (III) within monthly timeframe is ongoing
1. The stock rallies very fast and smooth (without any sharp corrections) what makes difficult to count the waves within daily timeframe
but
2. The stock is overbought more than the drop of Feb-March 2020 and is currently on historical overbought levels according to daily and weekly timeframes
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