Potential Pullback Buy Entry In Amazon.com Stock ($AMZN)
Aug 26, 2013
In an uptrending market, the two main types of technical setups we buy for swing trading leading individual stocks are Breakouts and Pullbacks.
Over the past four weeks, Internet giant Amazon.com ($AMZN) has been in pullback mode and may soon provide a low-risk buy entry with a positive reward-risk ratio.
Because $AMZN has retraced just 9% from its July 2013 peak down to its August low, the daily chart still looks healthy. Furthermore, $AMZN continues to look great on its longer-term weekly and monthly charts.
In the 3-minute trading strategy video below, we briefly analyze the daily, weekly, and monthly charts of $AMZN. We conclude the video by showing you the ideal price level where a swing trader might consider buying $AMZN on this pullback.
For best viewing quality, press the “play” button, then click the icon on bottom right side of video player window to watch the video in full screen HD mode:
To learn more details about our trading strategy for buying strong stocks on a pullback, check out the former blog post titledĀ How To Buy Strong Stocks And ETFs On A Pullback.
Conclude by taking a quick look atĀ How To Quickly Scan For Swing Trade Pullbacks, a trading strategy video that shows you a quick and easy way to pick the best stocks on a pullback.
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