Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Potential Pullback Buy Entry In Stock ($AMZN)

|Includes:, Inc. (AMZN)

In an uptrending market, the two main types of technical setups we buy for swing trading leading individual stocks are Breakouts and Pullbacks.

Over the past four weeks, Internet giant ($AMZN) has been in pullback mode and may soon provide a low-risk buy entry with a positive reward-risk ratio.

Because $AMZN has retraced just 9% from its July 2013 peak down to its August low, the daily chart still looks healthy. Furthermore, $AMZN continues to look great on its longer-term weekly and monthly charts.

In this 3-minute trading strategy video below, we briefly analyze the daily, weekly, and monthly charts of $AMZN.

We conclude the video by showing you the ideal price level where a swing trader might consider buying $AMZN on this pullback.

$AMZN - chart pattern

Potential Pullback Buy Entry In Stock - $AMZN (click to view video)

Follow Us: Follow us on Google+ Follow us on Twitter Join us on Facebook Our trading blog - RSS feed

DISCLAIMER: There is a risk for substantial losses trading securities and commodities. This material is for information purposes only and should not be construed as an offer or solicitation of an offer to buy or sell any securities. Morpheus Trading, LLC (hereinafter "The Company") is not a licensed broker, broker-dealer, market maker, investment banker, investment advisor, analyst or underwriter. This discussion contains forward-looking statements that involve risks and uncertainties. A stock's actual results could differ materially from descriptions given. The companies discussed in this report have not approved any statements made by The Company. Please consult a broker or financial planner before purchasing or selling any securities discussed in The Wagner Daily (hereinafter "The Newsletter"). The Company has not been compensated by any of the companies listed herein, or by their affiliates, agents, officers or employees for the preparation and distribution of any materials in The Newsletter. The Company and/or its affiliates, officers, directors and employees may or may not buy, sell or have positions in the securities discussed in The Newsletter and may profit in the event the shares of the companies discussed in The Newsletter rise or fall in value. Past performance never guarantees future results.

© 2002-2013 Morpheus Trading, LLC
Reproduction without permission is strictly prohibited.