proficy
Short

Why Amazon reached the top for this cycle.

NASDAQ:AMZN   AMAZON COM INC
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Hi all,

Looking at Amazon, we can see that the parabolic Monthly RSI now has reached 82.
The weekly is also heavily oversold and, most importantly, we have a divergence on the Daily MACD .
If not this week, then probably next week we will see the morning star appear on the weekly, and we can start shorting.

Facebook will lead the way down.
Goldman Sachs just gave the kiss of death with a 1900$ price prediction, which means, they are preparing the shorts at 1700, their previous target.

Remember, the trend is your friend until the end, but the now, trend is about to end.

Good luck with the trade all.

Comments

Hi,

Thanks for sharing!

"The weekly is also heavily oversold and, most importantly, we have a divergence on the Daily MACD ." - Overbought?
Reply
proficy Hulksbits
@Hulksbits, yes ... damn xD
Reply
sadburai proficy
@proficy, happens to me all the time as well :P
Reply
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