AMZN 3120: Long into Earnings (NFLX replay) Target 3500
Bulls may finally be rewarded on Feb 4, if the market holds.
AMZN has a very similar setup to NFLX, consolidated in a long triangle for months waiting for direction.
3100 is strong support, PCS 3100/3050 would be one way of participating in the earning move. Or 3100/3090 whatever the risk tolerance is.
Upside butterfly of 3300/3400/3500 also a good lotto. Nothing is guaranteed though.
Incrementally, AMZN is likely to see better comp than NFLX as all the small retailers have been wiped out and its cloud business is likely doing good in this anything digital conversion.
My other meg cap favor is GOOGL, youtube is killing it.
Good luck and mind your risk! Obviously, I am just a newbie talking loud myself and it is not any sort of advice as with all my charts.
AMZN has a very similar setup to NFLX, consolidated in a long triangle for months waiting for direction.
3100 is strong support, PCS 3100/3050 would be one way of participating in the earning move. Or 3100/3090 whatever the risk tolerance is.
Upside butterfly of 3300/3400/3500 also a good lotto. Nothing is guaranteed though.
Incrementally, AMZN is likely to see better comp than NFLX as all the small retailers have been wiped out and its cloud business is likely doing good in this anything digital conversion.
My other meg cap favor is GOOGL, youtube is killing it.
Good luck and mind your risk! Obviously, I am just a newbie talking loud myself and it is not any sort of advice as with all my charts.
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