I think Amazon might fall tomorrow, although I do not know how the markets will perform tomorrow. I think that might have more influence on the stock price of Amazon. However, on the basis of Amazon along, it seems that the current trend will continue to go down, although I do not know for how long. But it seems that there was a large increase of volume
, but the Heikin Ashi is forming longer shadows on the top of the real body, which means that bulls are slowly losing control of the price of amazon. There may be another big volume
spike though, although if there is, I predict that will result in something like a spinning doji
, which may signal for further downtrend. I've been pretty on the mark with Amazon so far, so I naturally gravitate towards it, but I try to make sure that I do not commit hot hand fallacy. If I were to buy (I'm not really trading right now because of midterms), I would probably buy morning or early afternoon. I would also probably sell it on the same day, since I mainly trade options.