It's been a series of steady growth triangles until recently. Now it's growth is much sharper and a correction is coming. Indicators show its overbought at the moment. There is also a bearish divergence between its recent upward trend yet the downward trend of volume. Recently, this surge of sharp growth appears to be in a Rising Wedge pattern which is typically bearish.
Much like the Amazon bubble of ~2000 when people overbought on hype on Amazon revolutionizing stores. Now it seems like people are overbuying due to hype of Amazon's new ideas and products in the modern economy. Day/week traders may find avenues to short it. But mid to long term holders are cautioned to wait.
Much like the Amazon bubble of ~2000 when people overbought on hype on Amazon revolutionizing stores. Now it seems like people are overbuying due to hype of Amazon's new ideas and products in the modern economy. Day/week traders may find avenues to short it. But mid to long term holders are cautioned to wait.