AMAZON : Charts always tell us some stories.
There is an amazing story behind AMAZON share, In the Early April of 2017 the stock was trading in a Range Bound Movementem till Early May 2017 from 8th May 2017 the stock started moving in upward direction from 948 and this movementem on upside was carried till later part of July 2017.
During that Period stock made a really good move upto 1082.88 which is approx 7% . Time taken to give 7% was only 2 months i.e. In 1 month stock gave a return of 3.5%. From August 2017 till Late October 2017 stock started trading in a Range of 931-1010 which was a complete testing zone for Investors.
On 27th of October the stock opened Gap Up from 972.48 to 1055.94, and on the same day the stock made its all time high and the greatest part to understand Psychologically is that Big Fund Managers have started adding the stock  in their Portfolio and the main reason of saying this is the stock from that period has never come at the opening level as well.
From 27th Oct 2017 till 02th Feb 2018 the stock moved rapidly to 1497.87 which is 23.7%  approx and that all in 3 months.
Previously the stock gave a return of 7% in 2 month and now the stock was giving a return of 23.7% in 3 month which is nearly 3times .
For a while Profit booking was seen in the stock. Again on 20th Feb 2018 stock closed above its previous all time high, which is suggesting a breakout and this breakout was the late retail investors entering in the stock. 
The move by Retail Investor was carried till 13th March 2018, and from this date the Big Players started booking Profit and the retail investors who bought stock on leverages was stuck, and they were to at the end the position by booking loss.
Within a period of 1 month stock reached its previous low and close strong which was suggesting a bottom period and this was confirmed when the stock was trading in a range for a period of 20 days.
The Next day the stock opened gap up on 27th April 2018 and then the stock was trading at higher levels. This time the Return was approx 4% only but the price of the stock was at 2050.39.
Later in Part we saw a Top formation and after that we saw a Downtrend, a pure example of DOW IDEAL MARKET.

Till 24th Dec 2018 Downtrend was seen an ISland pattern was formed suggesting a bounce back and the bounce back was sharp which lasted till 11th July 2019.

Further Correction was seen till 05th Aug 2019 till 31st Jan 2021.
In Feb 2021 retail investors again started entering the market and again they were caught up in the act. 

16th March the stock made its Low and from there the stock is trading on a higher level.
Recently the stock was trading in a range and a breakout was seen with a window.
I am expecting this as a retail move and believe that here a smart trader can enter and book profit with strict SL.

RSI has given a breakout
MACD above 90 has performed well.

IMPORTANT POINT : In Month of July stock majorly has closed higher.

ADVICE : Buy with Strict SL take profit and move out
Correction ahead can be a great opportunity to BUY

BUYING OPPORTUNITY

Jul 09 2021

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