I just added a 5% portfolio position (1/2 position size) to AMZN
Position filled at $2,815.32
Stop set at close < 10-wk MA (weekly closing basis)
The charts:
Weekly:
There was a recent breakout of the prior multi-year range on high volume. The PnF Objective shown on the chart, if achieved, would represent a nice % gain from current levels. (Approximately 28% gain)
Daily:
Price has recently consolidated allowing the 10 & 20 Day EMA’s to catch up. Recently there was a strong bounce off the 20 day EMA, reinforcing the stride of the rising trend. I’ll look to add to this position on future pullbacks, consolidations, and bounces off these EMA’s