Here is an interesting stock chart I created.
Take a look at AMZN on a daily chart and you will find a
rising wedge, which seems to have confirmed a support breakout; 69% of rising
wedges have a downward breakout. So now the question is, how much should it
drop? All other things being held constant, I would say support can be found at
the top horizontal line. If I am wrong, the lower horizontal line should lend
support to AMZN.
Alexander Schachter
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