AMZN: Top or Bullish Set-Up?

AMZN-- also (like AAPL) has been carving out a multi-month Coil Formation since September 2018. Each successive leg within the Coil travels a shorter distance as the price structure winds its way into the apex of the pattern. In that the Coil has formed in the upper 35% of AMZN's big picture pattern, we have to consider the post-September price action to be a bullish digestion period ahead of another powerful thrust. As long as any acute weakness is contained above the June low at 1672.00, an upside resolution to the pattern points to an intermediate term target zone of 2220 at a minimum to 2450 as an outlier...

What could go wrong? US Government oversight and anti-trust scrutiny, and well, POTUS dislike of the Washington Post, which is separately owned by Jeff Bezos, are all factors that could weaken AMZN, and press it to test and/or destroy the integrity of the developing bullish pattern... Last is 1856.00

6 19 AMZN 1140 GIF
6 19 AMZN 1140 GIF

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