Amazon.comUpdated AMZN Trade Ideas
This is an interesting chart. It's been fairly strong lately and not far off ATH with the majority of other mega caps. We have this ascending channel that was temporarily broken today, but it closed back above with a big lower wick. If it gaps down below tomorrow, I'd look for short entries targeting the trendline below. That could present a good long opportunity, or it could be another short if it ends up breaking below that as well.
Note
Didn't end up getting the downside break here. Huge breakout to the upside instead, new ATH. I wouldn't mess with this thing unless buying a dip.
You reap what you sow.
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
You reap what you sow.
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
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Disclaimer
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