AMZN Rallies Off Symmetry Support

Carolyn Boroden By

We highlighted a nice symmetry setup in AMZN that started on November 12. The key support came in at the 3439-3449 area. Once we saw a hold of this zone followed with a buy trigger on the 15 or 30 min chart, it was ok to take the longs overnight. 

So far we've seen a rally of $312 from that key support. It's time to ratchet up stops on longs now since we have met the minimum upside targets off this support. I also have time resistance to this move between now and early next week!

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