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Amazon (AMZN) Predictions for August 2023 (Paid Version/Best Trades)

Updated: Aug 8, 2023



  • Month’s Theme: A significant amount of price change.


  • Behavior Around the High: A sharp decline off of the high on a multi-day scale.


  • Behavior Around the Low: A significant move to the downside into the low.


  • Exclusive Trade Opportunities for Subscribers:

    • An opportunity to open a long position on the 1st before a fast, sudden move higher. I would close that at a crest on the 2nd.

    • An opportunity to open a long position for a day trade on the 4th. You could close that when we meet resistance later in the day.

    • An opportunity to open a long position on the 23rd. You could close that on the cusp of the 29th/30th.

    • An opportunity to open a short position between the 29th and 30th in anticipation to close in a decline in September.



Overview


On the 1st, we have a fast, sudden move higher. On the 2nd, there’s a peak or crest midday that we’ll sell off from through multiple support levels. On the 3rd, there’s a notable move higher and a notable crest. There’s another gap up on the 4th.


On the 7th, we’ll have a crest and sideways rotation followed by a sharp within that sideways rotation. On the 8th, we’ll continue to decline but that’s followed by a move to the upside from the bottom of a range to the top of a range. We’ll have a sharp decline overnight. There’s a rally on the 9th into what’s likely the highest high for the month. On the 10th, there’s a lot of price change and an important resistance level. On the 11th, there’s a fast, sudden move higher followed by a breakdown through a diagonal trend line.


That decline takes us into a prominent trough on the 14th. There’s a rally out of that trough that takes us into the 15th. There’s a decline on the cusp of the 15th/16th. There’s an unexpected move higher on the 16th. That move higher continues into the 17th where we’ll push the upper end of a range higher. There’s another prominent crest on the 18th. It’s possible that there’s a highest high for the month on the 18th.


On the 21st, we’ll have the halting of a bullish trend marked by a sharp decline through key support. On the 22nd, there’s a big move higher on a multi-day scale. On the 23rd, there’s a lot of price change to the upside. On the 24th, there’s a high toward the end of the day. Overnight or on the 25th, we’ll have a sharp decline into what may be the lowest low.



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