Stalking Amazon for a Buy

For the last couple of weeks I refused to do my analysis on Amazon (AMZN). The reason why was because this stock was overextended after a beautiful run from a prior Fibonacci price cluster setup that was evident at the 10/9 low.

We saw a run of over $70 since that low was made. At that point, I did not want to try to pick a top for a counter-trend trade, but I also did not want to be a buyer at those higher levels since I knew this name was vulnerable to a corrective decline after that huge rally into three upside targets! We are finally are seeing a healthy symmetrical pullback in this name, so it's time for me to once again start crunching those numbers so we can stalk an entry on the buy side....284 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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