AMZN Waiting on a breakout or breakdown

3 באוק׳ 2017

Amazon has some pretty lofty analyst price targets, most around $1100 a share. But, the price appears to be setting up a descending triangle pattern, I'm not too familiar with this pattern but from what I understand its a pattern that suggests a downward break in price movement. I'll be watching this closely to see how price breaks out of the pattern. Looking for a break through the upper trendlines on RSI, Price, MacD or volume.

If you're more familiar with this pattern or things to watch for please feel free to comment.

5 באוק׳ 2017

הערה

Looks to me that if we get one more green day we will be above the top resistance point and there could possibly be a macD cross. I'm curious if price will rally now into earnings, or trade in this wedge and breakout after earnings. From what I remember lots of tech tickers beat on earnings last quarter and were followed by a 5-10% drop, I'd be very surprised if that happened again.