AMBA, AMZN update 9/28

AMBA: it’s been awhile since we posted on this ticker, but that’s because it’s been mainly going down for a year between July ’15 and June ’16. Now we see renewed bullish potential as it also bottomed right at the lower end of our (blue) Primary II box (76.4% retrace of all of Primary I) . it therefore looks like primary III is underway. A break above $70-$75 targets $95 at the orange trendline.

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AMZN: Is in an extended 5th wave in our opinion. These are impossible to foresee but can be traded with a failed breakdown (below the prior 4th wave) and renewed breakout. Using standard fib-extensions as our best “anticipate” tool we see a price target of $950-$980.

amzn