bitcoinwizard1

AMAZON $1569/$1600 by next week

Short
bitcoinwizard1 Updated   
NASDAQ:AMZN   Amazon.com
Amazon has a Double top pattern with bearish divergence at all time high, It did broke the neckline (1902$) and it's currently doing a retest of it, short entry values are $1869 and $1902, with stop loss at $1954 it will take 2 or 3 days, before it starts retracing sharply to its next support zone $1569/$1600 this should be Next week, will probably reach the targets between oct 17 and oct 19
Comment:
Currently shows 1 day bullish divergence and we can expect a rebound to the B area followed by a rejection and next target will be the C zone, this idea will invalidate if the price goes above $1902 in this bullish move, which is very unlikely.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.