$AMZN TOP 20
Added 2025-05-18 18:15:54 +0000 UTC$AMZN along with the market did break above its 50 WMA and ran as high as its amber 0.618 Fib which we know is a resistance level.
Price has pulled back slightly from here, so we will need to see how the market interprets the Moody's downgrade on Monday but a retest of the 50 WMA at $197 should be expected I believe and we want the blue support line at $188 at the very least to hold or this a rejection in Wave B for me.
Right now, let the price action work for you and don't panic sell
A lot of positions are still below their 50 WMA, $AMZN is still strong.
Let the retest happen and we will monitor it.
