Potential harmonic targets for Amazon share
Amazon share has been able to breach through the red line of the symmetrical triangle in addition to clearing the B point of the bearish harmonic crab pattern to stabilize around 796.00 regions.
We believe that, Amazon will target 804.00 levels followed by 826.00 where it completes the triangle, touching the PRZ- potential reversal zones- of the harmonic pattern as far as it stabilizes above 782.00 level.
Assessing technical indicators, some kind of trend exhaustion started to appear on RSI14 and that may cause slight retreat, while MACD remains positive along with the three moving averages.
Stop loss for any long setups should be placed below B point.