My colleague asked me to analyze Amazon. If we look at chart we have seen nice five wave rally (green) from 23.0 to 674. We also saw that last green wave v has also five sub-wave (red) rally which indicate that green wave v is finished at 674 and now we are expecting larger correction in blue wave 4. The ideal target for blue wave 4 is usually beyond the green iv wave which is nearly 270. Sellers can enter into trades with stop loss above the high and hold positions for medium to long term.

muhiuddin