Purchase of Amazon.com shares (#AMZN). Large online retailer and cloud computing operator.
Amazon shares are rising against the general market decline. It makes sense to buy them with insurance by selling a falling stock.
On the daily chart, the price develops above the indicator lines of the balance and MACD. The Marlin oscillator is in the growth zone. The first target of the continuing upward trend is the 238.2% Fibonacci level at 3597.00. The second target is 3696.00 along the Fibonacci reaction line of 271.0%.
Sale of Starbucks shares (#SBUX). American coffee company and coffee shop chain.
After the price reversal from the MACD indicator line on the daily chart (red arrow), the price is steadily decreasing.
The minimum of May 19 (100% Fibonacci) will soon be overcome and the fall may intensify. The Marlin Oscillator has moved into a downward trend zone. The first target is the 161.8% Fibonacci level, which coincides with the March 5 low.
The material has been provided by InstaForex Company - www.instaforex.com