AMZN Diamond Top? $500-700 target move Short

NASDAQ:AMZN1D

Amazon.com, Inc.NASDAQ

Description

⋅ Dec 2, 2020 2:15 PM

AMZN completing this diamond by 12/7. If it breaks down I am expecting a big move down.

Comment

⋅ Dec 9, 2020 11:56 PM

Bulls need this orange trend line to hold or I'm expecting 3000 easy. Below 3000 would be an attractive buy with a stop below 2870.

Comment

⋅ Dec 10, 2020 12:01 AM

Redrew trendline.

Comment

⋅ Jan 15, 2021 10:32 AM

Prime trend line did not hold and may have failed backtest. Expecting this to make a strong move to get back up soon otherwise continued grind lower.

Comments

Penny_Saver

⋅ Dec 10, 2020 12:03 AM

Just because it went down with the market does not mean your chart is right. That does not look remotely close to a diamond top, you can draw a bunch of lines connecting any two sets of points and they don’t mean anything

InvestmentSentry

⋅ Dec 18, 2020 2:30 AM

@Penny_Saver, I guess the continuous rejection of the green resistance line and the bounce right off the orange trend line doesn't mean anything either. Rejected the green line perfectly on 12/14 and 12/15 again which made great put day trades this week.

VISCABARCA1899

⋅ Dec 3, 2020 2:43 PM

are you high??

InvestmentSentry

⋅ Dec 3, 2020 7:46 AM

Note the diamond can be a continuation pattern with the same projection to the upside. I am just biased towards this breaking down.

wisw1611

⋅ Dec 3, 2020 7:35 AM

You make me laugh :))

Penny_Saver

⋅ Dec 2, 2020 11:50 PM

nope