AMZN Predictions for December 2023 (Paid Version/Best Trades)

Kapproveb Alcyone
Oct 31, 2023
3 min read

Updated: Apr 24, 2024

Month’s Theme: A failed attempt to break through key resistance followed by a decline through key support. That’s crossed with bumping along resistance sideways.

Behavior Around the High: A failed attempt to break through key resistance at the high followed by a decline through key support off of the high.

Behavior Around the Low: Bumping along resistance near the low.

Exclusive Trade Opportunities for Subscribers:
- An opportunity to open a partial short position on the 6th and the other part on the 7th. You could close that on the 12th.
- An opportunity to open a short position at a high on the 18th. I would close that at a lowest low on the 19th.
- An opportunity to open a long position at the beginning of the day on the 20th and close it on the cusp of the 21st/22nd.
- An opportunity to open a long position on the 27th before a rally. You could close that after a move to the upside on the 28th.

Overview

On the 1st, we’ll have a period of sideways rotation where we’ll rise to meet the nearest resistance and then fall back down to continue rotating sideways.

On the 4th, there’s a significant move higher on at least a one-month chart. There’s a peak between the 4th and 5th that we’ll sell off from pretty notably. On the 6th, there’s a gap up into another prominent peak or crest and a sideways S-formation in the midst of a decline. We’ll gap up on the 7th and then have a significant move to the downside. There’s some flat chart behavior on the 8th. There’s a notable gap up over the weekend.

I’m advised not to chase a rally early on the 11th. There’s a drop into a significant trough later on the 11th. There’s a lowest low thus far on the 12th. There’s a failed attempt to break through key resistance followed by a decline through key support into a prominent low for the month. There’s another lowest low on the 13th in the midst of a period of volatility. That period of volatility ends with a move to the upside on the 14th. We’ll then possibly have another failed attempt to break through key resistance on a multi-day scale followed by a decline through multiple support levels. We’ll bounce along sideways and then break down through more support levels. That decline continues into the 15th and then ends with a fast, sudden move higher toward the end of the 15th.

On the 18th, there’s a breakout to the upside into a peak or crest midday on the 18th. That offers an opportunity to open a short position before a gap down into the lowest low thus far leading into the 19th. That’s very likely where the lowest low is and where you could close the short position. There’s an opportunity to open a long position at the beginning of the day on the 20th. There’s a big move out of that low into a peak or crest toward the end of the day on the 20th. We’ll decline pretty notably off of that and revisit a support level. We’ll have sideways rotation along that support into the 21st. That ends with a prominent move higher on the 22nd. I would close the long position after that move to the upside.

We’re closed on the 25th. On the 26th, we’ll attempt to establish support at a prominent trough with sideways rotation. On the 27th, we’ll probably open higher and then a sideways-fluctuating rally that precedes a decline. I would open a long position before that rally. That rally to the upside takes place on the 28th where we’ll then turn resistance into new support. I would close the long position there. On the 29th, we may see another highest high at a prominent peak or crest on a one-month scale. There’s either a notable decline throughout the day or off of a peak or crest toward the end of the day and into January.