Hubert Senters here.
Let’s take a look at Amazon. I’m just doing a normal analysis today Ichimoku. I like it. I like the company. I like the stock. Overall, it looks really good.
And as you can see here is an aggressive one day bar signal. I’m going to say one aggressive, two moderate, three conservative AMC signal. That’s it. We invented a new term, AMC. Now, it’s probably going to pull back a little bit. Sometimes when they go three days up they’ll tend to pullback a little bit.
We do have some known resistance right up here in this area around $1600 so will be on the lookout for that in overhead resistance. Overall though Amazon looks pretty good. It’s a market proxy stuff. If the Nasdaq rolls over and dies and pulls back thousands of points. Heads up Amazon will go lower if Amazon just kind of or if Nasdaq does waffles around.
Amazon will trade sideways to slightly higher. I like Amazon. It looks good. It looks like it’s going to go higher with the ash tricks and air quotes scenario as long as the market continues to act decent.
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Good luck. Hope it helps. And I’ll see you in the next video.
Hubert.
