TradingView
goobur
Dec 18, 2019 4:46 PM

AMZN Local Top Short

Amazon.com, Inc.NASDAQ

Description

We're seeing a consolidation in AMZN that will eventually break and serve as a catalyst for further rallying or selling in broad indices. As marked on the chart, similar-duration past consolidations in the stock have resulted in an eventual washout bottom 50% lower than near-term highs. Four of the past six AMZN consolidations have ended after washout bottoms.

Comment

Three of the past five*...
Comments
nucrph
what is your forcast for towmorrow?
goobur
@nucrph, it's nearly impossible to predict what a stock may do over short time-frames. If I had to guess, I would say there will be no meaningful gain or decline tomorrow. Bias: sideways.
More