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Markets by Mike Paulenoff 4/23 - AMZN is Free to Retest its All-Time Highs

Tuesday April 23rd, 2019
by Mike Paulenoff

AMZN reports Thursday after the close. The upmove from yesterday through today so far, from 1845 to 1930 has thrust above every prior "shoulder peak" hit during the past 10 months (see my attached 4 hour chart), and as such, is pointed towards a run at its Sep-Oct 2018 high-zone at 2030 to as high as 2080.

A bullish algo-knee jerk reaction to Thursday's earnings report certainly could pop AMZN 6%-7% to test the all time high zone.

Conversely, if AMZN disappoints, or otherwise reacts negatively, a sustained breach of 1830 will argue that the post-12/24/18 advance from 1307.00 (intraday) is exhausted... Last is 1919.36/85


$AMZN

Mike Paulenoff is author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!

*  I really like Mike's charts and analysis. This is shared with my readers here via MPtrader.com  *


Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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