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Amazon (AMZN) - Bullish Continuation Trade Idea
- AMZN is trading within a well-defined ascending channel, respecting both upper and lower trendlines.
- A recent breakout from a triangle consolidation pattern suggests potential continuation of the uptrend.
- The price is currently testing the breakout level while staying above key moving averages, reinforcing bullish sentiment.
- Moving averages (e.g., 50 EMA, 100 EMA, 200 EMA) are in an upward slope, acting as dynamic support.
- A recent breakout from a triangle consolidation pattern suggests potential continuation of the uptrend.
- The price is currently testing the breakout level while staying above key moving averages, reinforcing bullish sentiment.
- Moving averages (e.g., 50 EMA, 100 EMA, 200 EMA) are in an upward slope, acting as dynamic support.
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