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.
This monster seems like still bullish, wait for price action.
dfsemeraro
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@watsonzou26, It may very well be bullish short-short term. But I would keep an eye out for that Rising Wedge. We're probably in a FOMO phase right now and it may very well soar before having a large correction. It's just a high position now - one I would buy on the way down - not on the way up. As a lesson, those who rushed in to buy Amazon toward the peak in the early 2000's had to wait at least 5 years to just break even.
PowerOfCapital
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@dfsemeraro, Absolutely right. Common sense: buy low instead of high.