As said in the chart, 3 black crows may be forming on the daily chart. Lots of sellers or bears stepping in to bring the price down. Would need some more confirmation to be sure of the action of shorting.
Remember to always take partial profits along the way down.
Also, the rsi on the daily chart is also above 70, be cautious. I also think that this quick hype might be due to the prime day, now that it’s over, it’s the typical buy the rumor, sell the news kinda thing.
* don’t get me wrong, I’m long term bullish on amzn, It’s a Great company, but I’m short term bearish depending on the price action tomorrow.
* this is not a financial advice, just my thoughts, please be sure to do your own due diligence.
Remember to always take partial profits along the way down.
Also, the rsi on the daily chart is also above 70, be cautious. I also think that this quick hype might be due to the prime day, now that it’s over, it’s the typical buy the rumor, sell the news kinda thing.
* don’t get me wrong, I’m long term bullish on amzn, It’s a Great company, but I’m short term bearish depending on the price action tomorrow.
* this is not a financial advice, just my thoughts, please be sure to do your own due diligence.