Blaine Tarr said: ↑
One thing to keep in mind - uptrend is support, downtrend is resistance.
I do realize it probably can't compensate for the price it's at. But for the short term, say 2 weeks. Do you think it has some upside? Also there's rumors regarding a 3-d smartphone being released on June 18th. How could this affect the stock?
50/50 gamble at this point. Ideal entry was yesterday as it reversed through resistance at 315. Short term targets 338 (down-trend line) and 345 next horizontal resistance. Mid/long term target could be 380.
AMZN.jpg
Why I would buy Amazon (AMZN)
Blaine Tarr said: ↑
50/50 gamble at this point. Ideal entry was yesterday as it reversed through resistance at 315. Short term targets 338 (down-trend line) and 345 next horizontal resistance. Mid/long term target could be 380.
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That is awesome. Could the rumors of that 3d phone release have any sort of impact on whether the trend will continue towards the 18th? And now since this is somewhat of a risky stock, how would I go about finding stocks with good breakout positions? Just skimming through a bunch or using a search tool? Also is there any point to me looking at long term charts (like 10 year line) if I'm looking to do short term trades?
Isa Palacios said: ↑
That is awesome. Could the rumors of that 3d phone release have any sort of impact on whether the trend will continue towards the 18th? And now since this is somewhat of a risky stock, how would I go about finding stocks with good breakout positions? Just skimming through a bunch or using a search tool? Also is there any point to me looking at long term charts (like 10 year line) if I'm looking to do short term trades?
That may have helped the b/o over 315 yesterday, but at this point its really up to see who is control, buyers or sellers. That is why its a 50/50 chance from here. If I don't buy the breakout, then either just watch and wait for next one or play a momentum setup IF it comes along for a day-trade, but then we're getting into more complex strategies. I never buy a stock just because it has 'good' news. The chart is priority.
Isa Palacios said: ↑
I've heard two different things as to how to create a watch list. 1. pick stocks you like, and learn them over time. 2. Just look for patterns you like using a search tool.
I do both.