Amazon Winter Breakout AMZN LONG
Fundamental: Price targets on the street in the $4000's up to $4500. Issues to keep up with ecommerce demand for amzn is a sign for growth, consumer trends from the pandemic will stick. Its domination in cloud and AWS are additional catalysts for growth. Look for amazon's numerous industries continue to develop and beat competition. Look for retail centers to become processing hubs as well.
Technical: Triangle allows to use volatility to our advantage with a wide range of over $600. Towards the end of its consolidation I'm looking for an upgrade in 2021 with a target of 3500-3700. I'm looking to start my position in the 3100's with an equity in at $3097. Below $3097 I buy more shares and open my long contracts $3300-$3500 2/19 - 3/19. Upon a breakout of the triangle 2 week contracts will be played. on the 1 and 4 HR .
Technical: Triangle allows to use volatility to our advantage with a wide range of over $600. Towards the end of its consolidation I'm looking for an upgrade in 2021 with a target of 3500-3700. I'm looking to start my position in the 3100's with an equity in at $3097. Below $3097 I buy more shares and open my long contracts $3300-$3500 2/19 - 3/19. Upon a breakout of the triangle 2 week contracts will be played. on the 1 and 4 HR .
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