Amazon: Keystone Momentum

Amazon, Weekly

In the Weekly timeframe, #AMAZON has formed an expanding wedge pattern in a long-term bullish trend. Price is updating the highs, but the price is now consolidating at 161.8 Fibonacci. The price crossed the upper Bollinger line, and RSI came out of overbought, which may start a minor correction.

• If the price breaks the upper trend line above 230.0, the upside will continue to 280.0;

• A rebound from the trendline will drop #AMAZON to the lower trendline of 200.0;