Flag and Pennant at $AMZN
We can see a sharp 15% rise in the of AMZN from the 8 to the 21 of march
Then we can see a little consolidation with a support at around 1747$
AMZN today just broke the upper trendline and I am now looking to long it around 1815$
Stop Loss is just slightly below the support line of the pennant at around 1740$
Profit Take would be the height of the flag + the lower trendline (support) of the pennant. This would result in a profit take at around 1980$ resulting in a 2.2 risk/reward ratio.
Then we can see a little consolidation with a support at around 1747$
AMZN today just broke the upper trendline and I am now looking to long it around 1815$
Stop Loss is just slightly below the support line of the pennant at around 1740$
Profit Take would be the height of the flag + the lower trendline (support) of the pennant. This would result in a profit take at around 1980$ resulting in a 2.2 risk/reward ratio.
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