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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: cowboyfan who wrote (3777)6/16/1998 9:04:00 PM
From: Ms. X  Read Replies (2) | Respond to of 34811
 
I remember you!
Long time no post.

AMZN is very extended here. This does not mean the stock won't continue to go up perhaps but your risk reward isn't that great.
For long positions now, I'd definitely wait for a pullback.
If it reverses on its chart you can then wait for the next reversal to the upside for entry. This sets up a close stop for your position. Right now, the support level is down 30 points from here at 42. Not good.

Take care,

Jan I am


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