Amazon.comשורט
AMZN going down-a-dozen
מעודכן
There is strong negative divergence on the price and has very likely done a double top at $189 area. Ideally, if that double top is confirmed in the next one or two candles, then it should fall to at least the rising trend line. However, that rising trend line also is making the bearish flag pattern. So there is high likelihood that it will loose support of trend line, which if it does, should fall to the bearish flag pattern target of ~$119, which happens to be a strong support area. This would be the best point to buy Amazon! But that's if it follows those possibilities. Now as you would expect, it would not be a linear fall, but likely a 4-6 month thing, which time wise, aligns perfectly with end of year retail sparks. So if we end at that price point around Oct, I am going heavy in to this. Alternatively, all of this is bullshit, and price gets support earlier and has a change of trend, so watch for the support areas $174, $167, $156, $145 and $126. Time will tell, but in the very short term, price should be falling to one of the support areas.
הערה
Going as expected so far...MACD (on the daily) got rejected at the trend line and falling with LL and LH. Weekly MACD has topped as well. We wait until we reach the trend line of the price channel. It looks like it might be coinciding with gap fill at $159 area, which could be a key support area.הערה
Today decides which way this goes. Daily MACD is again at that trend line, and price is at that resistance level for a fourth time! Price did do a higher low, but MACD is still showing negative divergence. Analysts are bullish on this though, so let's see. My initial bias is that price gets rejected at the $190 area resistance. Fingers crossed.הערה
So we did get rejected with strong volume. Waiting for confirmation tomorrow, but looks like a triple top for now. If it gets confirmed, it will lend well to the bigger bearish idea.העסקה בוטלה באופן ידני
Didn't go as planned. The value of confirmation is immense. The supports at $174 and $167 were pretty good.
כתב ויתור
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