Amazon Trading Analysis (31/05/2024)

The trend is ascending. The stock is traded in the range between 365 and 135 ЕМА. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator. Moving averages of the Stochastic Oscillator are in the oversold zone.

Trading idea:

Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the descending truncated structure.

Stop-Loss is under the local minimum of the descending structure at 178.27.

Target price levels at 187.00 and 191.30.

#amazon #stock #tradersroom #daytradingpatterns #forexexpertadvisor