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This $AMZN post from .@TrendSpider intrigued me so I decided to check it out
It seems like Bears are targeting 211.54 as long as we continue to trade below/reject 218.81 — as of now the 200day is acting as a support as seen from the post below but we also see what happens if we break the 200day both times we dropped $30+
If Bulls fail at holding the 200day I’ll be genuinely surprised if we don’t see the support trend below (which supported the last drop from the 200day aka tariff crash) & or 180.99 — for me the true confirmation that this ends up happening will be breaking below & rejecting 204.50 if this happens we can expect the main target for bears to be 180.99
But 1st we need to break below the 200day & in the short term we are in a falling wedge which is a technically bullish pattern — & since we are testing/supporting the 200day after a while (since May) we usually do bounce after testing something as important as the 200day so as of now 218.81 is the first target & potentially 225.17
In the short term supporting 216.03/216.29 = 218.65 - 220.70 - 222.14 - 223.58 then finally 225.17 (supporting 225.17 is extremely bullish & we could be breaking out of the falling wedge & we can expect 231.94 - 234.23 & potentially 237.92)
Rejecting 216.29/216.03 = 213.15 - 211.54 - 208.48 - 207.84 - 204.50 - 201.98 - 200.93 - 198.98 - 196.26 - 192.41 - 190.12 then finally 180.99