AMZN has taken a tentative bounce from a secondary pivot at 1545.16. This is a logical place for a reversal to occur if the bounce is going to get legs. However, for bulls to nail it they would need to push the stock a further $80, exceeding the external peak at 1673.00 shown in the chart. That would put 1696.51 in play as a minimum upside objective, with potential for a run-up to as high as 1846.51. Alternatively, a relapse exceeding 1545.16 would put in play the 1465.55 target shown. _______ UPDATE (Nov 29, 9:05 a.m.): The stock has gotten schmeissed overnight and should now be assumed headed down to at least 1415.36. That’s the last logical short-term target available on the hourly chart, derived from sliding the point ‘A’ high up to Oct 17’s 1845.00. Please note that an alternative low at 1400.67 is possible if I use the 1859.69 ‘A’ created overnight on 10/17. One target or the other, precisely, is extremely likely to produce a tradeable bounce. ________ UPDATE (Nov 20, 9:56 p.m.): A spectacular, 92-point plunge brought the stock down to within less than $5 of the 1415.36 target I’d sent out the night before. It remains viable in theory, but bulls appeared to be gearing for a rebound to at least 1544.07. If they can get decisively past that midpoint Hidden Pivot resistance, they’ll have a shot at 1601.44._______ UPDATE (Nov 25, 5:07 p.m.): The sleazeballs who manipulate this stock for a living would love to run it up bears’ old wazoo, but it won’t be possible as long as AAPL continues to fall. Accordingly, you should use the 1456.04 midpoint support shown here as a minimum downside objective for the near term. It looks like it’ll be a great spot to try tightly stopped bottom-fishing. Stay tuned to the chat room for guidance on this in real time.
