Amazon testing MA200 support line
Did Amazon reached the bottom and will it start to rise again from here? It is nearly 2 years ago since Amazon was testing MA200 the last time.
If Amazon manages to test the MA200 line successful and reach the previously all-time-high, you have 20% profit.
Nothing is certain these days, as the US indexes are going up and down constantly. We will not buy Amazon before we see a clear uptrend and some clear buy signals. If Amazone breaks through the MA200 support line, then we can expect further falls.
With this in mind, we advise the readers to have patience and wait for the right signals, before buying.