Josh Maher
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Josh Maher in Josh's value investing,

Amazon's parabolic rally isn't over

Amazon (which makes up 1.8% of the Nasdaq 100) has rallied to parabolic levels. Looking at this monthly chart (that we showed WaveBOOM members earlier in the week), the rally is not likely over; however, these stochs can’t get any higher, and at least a correction, which both blue and red paths allow, is due to begin at any time.  The weekly stochs (not shown) just crossed down, after the daily price chart tested the upper 3 sdb on Dec. 1st., near 400.  340 seems a likely support to be tested.