AMZN posied to make a new All Time High - Target $2000?

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  • AMZN posied to make a new All Time High - Target $2000?

AMZN has exceeded its pre-pandemic high by 13%. The sideways movement makes an opportunity for a option straddle position.

If the price was to fall it is clear it would fall to around 2000, or else simply continue upwards.

 

As its not clear how much further up it may go, a straddle would be a safe strategy


Recent sideways movement has created what looks like a FLAG and POLE Chart Pattern. Which would give a substantial target of around $3000 for AMZN.

 

This could qualify, as amazon has surpassed its previous high due to more people shopping online due to the pandemic.  This trend is likely to continue.

 

Should this fail, $2000 support seems to be a good point to settle. Either way a 16% movement is highly probable.






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  • 03 Jun 20
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