AMZN has been in a downtrend consolidating pattern since Jan 2014 forming a HUGE descending triangle. Price is testing repeatedly on the resistance by descending triangle.
Beware of price break out and go for 346.05
Comments
A-shot
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Great chart.
jangseohee
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Thanks YW
IvanLabrie
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Surgical strike ;)
jangseohee
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If that pattern works well :-)
adammska
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lol I think it has already broke out on the weekly chart.
jangseohee
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Connecting all the lower highs, mine not yet :-)
jangseohee
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Hi John,
It actually up gap and broke the resistance for one day on 28th Nov, followed by a bearish engulfing to bring it back :-)
A-shot
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I would count it if it closes above a trend , just being there can be a fakeout