Trade Idea for Amazon.com, Inc. (NASDAQ)

Amazon.com, Inc. (NASDAQ)

#AMZN

    The trend is bullish. The stock is trading within the range of the 365 and 135 EMAs. The descending truncated wave structure has been completed with a breakout of the descending channel. The Stochastic Oscillator indicates oversold conditions.

Trading idea:

Buy on a breakout above 235.00.

Stop Loss: 231.70.

Target levels: 238.90; 245.36.