AMZN
Jeff Bezos sold at the top and bought a yacht while The Jeff Bozos the clowns will buy the stock split thinking they’re getting a good deal.
That last leg of AMZN Uptrend which respected 50ema, started April ’20 and topped out Sept.’20. It closed below the 50ema that Sept. and price entered a Sideways market
AMZN moved sideways from Sept.’20 thru Jan.’22. During this time, Good ‘ol Jeff Bezos jumped ship Nov.5th ’21 @ 179 and jumped into an enormous yacht. The sly dog knew what was coming and exited at the top.
Jan’22 price broke down from this sideways range and confirmed the range to be a Distribution stage. Price fell from 165 down to 136. During this time, we also had Death Cross between the 50 & 200 ema to further signal the bearish conditions.
Price pulled back from 136 twice to previous Support looking to turn it into resistance. The market was very nice to the “investor”, gave them two chances to exit.
On the second pullback to resistance, we also had an Overbought Stochastic reading. This was our 1st entry to enter trade short. This short entry saw price move from 167 down to 102. This breakdown saw price make a lower low and confirmed the start of the downtrend for AMZN.
From the lower low made at 102, price pulled back to the 50ema which is acting as Dynamic Resistance level. Currently, we also have an Overbought Stochastic reading. This is the second entry to trade short. Downtrend + Pullback to resistance + Overbought Stochastic = Short Trade Entry
Entering trade short.
Entry: 124.79
Stoploss: 139
Target #1: 101.61, 18.56%, 1.63 RR ratio
Target #2: 83.86, 32.79%, 2.87 RR ratio
Jeff Bezos sold at the top and bought a yacht while The Jeff Bozos the clowns will buy the stock split thinking they’re getting a good deal.
That last leg of AMZN Uptrend which respected 50ema, started April ’20 and topped out Sept.’20. It closed below the 50ema that Sept. and price entered a Sideways market
AMZN moved sideways from Sept.’20 thru Jan.’22. During this time, Good ‘ol Jeff Bezos jumped ship Nov.5th ’21 @ 179 and jumped into an enormous yacht. The sly dog knew what was coming and exited at the top.
Jan’22 price broke down from this sideways range and confirmed the range to be a Distribution stage. Price fell from 165 down to 136. During this time, we also had Death Cross between the 50 & 200 ema to further signal the bearish conditions.
Price pulled back from 136 twice to previous Support looking to turn it into resistance. The market was very nice to the “investor”, gave them two chances to exit.
On the second pullback to resistance, we also had an Overbought Stochastic reading. This was our 1st entry to enter trade short. This short entry saw price move from 167 down to 102. This breakdown saw price make a lower low and confirmed the start of the downtrend for AMZN.
From the lower low made at 102, price pulled back to the 50ema which is acting as Dynamic Resistance level. Currently, we also have an Overbought Stochastic reading. This is the second entry to trade short. Downtrend + Pullback to resistance + Overbought Stochastic = Short Trade Entry
Entering trade short.
Entry: 124.79
Stoploss: 139
Target #1: 101.61, 18.56%, 1.63 RR ratio
Target #2: 83.86, 32.79%, 2.87 RR ratio
Trade active