Amazon.com
Short

Head and Shoulder pattern developing for $AMZN

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AMZN has been the weakest link in the tech sector and has been sitting below its 200EMA for a long time. With futures down big this morning, see if it breaks below 3175 for a complete breakdown. The chart is looking like a classic head&shoulders pattern with the neckline around 3175. In case it completes, the calculated move down is towards 2500 with a possible bounce off 2850 first. Keep it on your radar for sentiment in the tech arena.

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