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avka81

Amazon Topped and its Trading in a Descending Chanel like FB

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Amazon.com (NASDAQ:AMZN)  
avka81 Updated   
NASDAQ:AMZN   Amazon.com
Trend Analysis Chart Patterns Technical Indicators
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Since Amazon broke down from the H&S it bounced back really hard. Overshot my bounce target by $150. Now its getting rejected by the 200 MA. I think this is the top for this bounce and seems like trading in a descending channel (FB did for 5 month). Next Target $1200.... Lets see how it plays out. Over all Target this year $935. In the Long term a lot lower @ around $300-400(fair value)...Also all the Major Indices is topping right at the 21 Monthly moving average since it broke bellow it.
Trade active:
If this analysis right, we should hit $1200 in 11-12 trading days
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Trade active:
We gonna go down
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