1. Last week Amazon closed below $316 (weekly close, $311.39) which is the weaker position and indicates a further drop to the original $306.00 downside target (or lower) noted in previous updates.
2. Will message any new entry based upon the above as the market continues to confirm.
1. Our previous (Sunday Oct. 12) report indicated that last week’s (week of Oct. 6) close below $316 indicated a further decline to $306 (or lower) in Amazon. Last week closed at $311.39.
2. Today’s Amazon session declined sharply and completed the $306.00 downside target (session low, $303.47, so far). Will message any further entry or indication as the market confirms.
1. Last week Amazon tested the preferred $317/$16 downside level noted in previous meetings and closed the week $322.74, above $317/$16.
2. This is the stronger position for Amazon and the earliest indication for further advance and test/attempt at $338/$40 originally forecast in previous Williams edge live meetings. This also temporarily negates any necessity for further decline to $306 noted in a previous meeting.
3. Will update as Amazon continues to confirm.