$AMZN TOP 20
Added 2025-03-06 12:35:57 +0000 UTCOk this is the 1hr chart, so you won't see the 200 Day MA at $198, where the price held support on this week.
But I need to show you the 1hr chart for clarity now.
We have a run up to the 50 MA on the 1hr chart and some red in the PM now, this could signal that the first wave bounce is complete and this is the most important part next, the pull back to a higher low, so I have added in the white fib levels.
If $AMZN can pull back in 3 waves and hold between the 0.5 - 0.618 Fib at $203 - $202 then $AMZN is looking very good here next to move higher and move back to the Wave 5 target at $244, for a +20% gain.
All we need to see now is $AMZN hold a higher low next.
