How We Nailed AMZN at $122 After Earnings

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On Thursday on the Hit and Run Private Twitter Feed, we recommended a long play on AMZN which was going to report earnings after the bell:

AMZN was already up sharply on the day at 109 but the Square of 9 Wheel indicated a target of 121-122 was on deck,

Why?

122 is 360 degrees up from the 81 low and ties to the current time window.

Notice that early May is 180 degrees straight across and opposite 81 and 122.

So we were in the time window for AMZN to be magnetized to be magnetized to 122 region.

And, as the above daily shows this ties to a prior pivot.

The market has a good memory.

The stars were aligned for a solid risk to reward longside play.

AMZN quickly exploded after reporting and members sold into the spike at 120 and 122.

 

Let’s look at how multiple time frame analysis backstopped the trade.

A weekly AMZN shows the solid resistance in the low 120’s corresponding to a declining tops line.

And as you can see, AMZN topped at 123 after the report… and before the fall:

A 10 min AMZN for this week shows Thursday’s Opening Range Breakout (ORB) that telegraphed the Earnings Explosion.

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