- AMZN for the past 2 years has been finishing off its 5 wave cycle down. At the end of Dec '22 we saw a push out of the cycle down and into a corrective phase (B Wave) which we are in now and has been going on for the past couple months. It looks like the B wave is coming to an end soon as we approach this range of the blue resistance lines. I see it going into this range and then falling back to make new lows to finish off the C wave.
I don't think I would be a buyer right now with about maybe 15% upside if that and the downside we are looking at 35-45%... The risk/reward isn't there for me, but it might be there for some.
I don't think I would be a buyer right now with about maybe 15% upside if that and the downside we are looking at 35-45%... The risk/reward isn't there for me, but it might be there for some.