AMAZON: Crossed over the 1D MA50, best buy trigger you can get

11 Sep

Amazon crossed today over the 1D MA50 for the first time since August 1st and effectively validated the buy signal that was triggered on August 5th at the bottom of the Channel Up. The 1D technical outlook just got over neutral grounds (RSI = 56.780, MACD = 0.060, ADX = 15.410) so being slightly bullish along with the 1D MA50 cross, is the best buy trigger you can get.

The MACD pattern is almost the same as on every Channel Up bottom. The rallies that started on those bottoms printed +62.30% and +64.82% rises. We are targeting at another +62.30% rise (TP = 245.00).

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