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It's been a tough couple of sessions for shares of e-commerce behemoth Inc. (AMZN) - Get, Inc. Report . Shares of the $474 billion online shopping stock have lost more than 6% of their market value in the last two trading sessions, the blowback from a less-than-stellar second-quarter earnings result.

But if you think Amazon's run is over in 2017, think again.

In fact, shares are showing investors a clear-as-day buy signal that's handed out profits each of the last six times it's appeared on Amazon's chart. Here's the chart:

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You don't need to be an expert trader to decipher the price action on Amazon's chart. In fact, the price setup in shares is about as simple as they get.

Since last fall, Amazon has been bouncing its way higher in a well-defined uptrend. That uptrend is identified by a pair of parallel trendlines that have defined the high-probability range for shares of Amazon to stay stuck between. Simply put, every test of the bottom of Amazon's price channel has provided investors with a low-risk, high-reward buying opportunity. And shares are showing off their seventh buyable bounce this morning.

Actually waiting for that bounce is important for two key reasons: It's the spot where shares have the most room to move up before they hit resistance, and it's the spot where the risk is the least (because shares have the least room to move lower before the channel breaks, invalidating the upside trade).

Remember, all trend lines do eventually break, but by actually waiting for the bounce to happen first, you're ensuring that Amazon can still catch a bid along that line before you put your money on shares.

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So far, the retreat to trendline support has been textbook -- shares moved precisely down to that price level and are catching a bid early in Tuesday's session. That's as clear a buy signal as they get without the benefit of hindsight.

Relative strength continues to be the most important technical indicator you can use this summer, and it adds some extra confidence to Amazon's upside here. As long as that relative strength uptrend remains intact down at the bottom of the chart, Amazon is predisposed to keep leading the market higher in 2017.

Risk management is always crucial, and that's no different with Amazon's buy signal today. If you decide to pull the trigger on Amazon here, it makes sense to park a tight stop on the other side of Amazon's most recent swing lows at $950. If that $950 level gets materially violated, then the uptrend is over and you don't want to own this stock anymore.

Until that happens, keep on buying the dips.

Amazon shares fell slightly to $995.89 in postmarket trading on Wednesday.

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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.