It seems too easy to pick on AMZN again here for a decine - so I might just sit this one out. Too many sells are coming up and most of them are holding ground. Either way, if you can just "follow" a methodology without questioning it - then this is a sell signal on a stop going under yesterday's low or any previous day low.
My own "trend indicator" (called "Range Movement") is telling me the trend is down. The market is overbought here with CCI > +100 and all we need to see is a move below a previous day's low. Preferably, you want to see AMZN close below 310.19 also (1 cent under yesterday's 310.20 low).
Also on this chart are key support and resistance levels from EPS dates: This shows you key levels to trade against. Currently, AMZN is reacting to resistance at 312 from the last earnings report. Risk 6 pts or less, even as low as 3 pts. Target? 10-20 points down to 300 to 290.
Look to cover when CCI drops to -100.
My own "trend indicator" (called "Range Movement") is telling me the trend is down. The market is overbought here with CCI > +100 and all we need to see is a move below a previous day's low. Preferably, you want to see AMZN close below 310.19 also (1 cent under yesterday's 310.20 low).
Also on this chart are key support and resistance levels from EPS dates: This shows you key levels to trade against. Currently, AMZN is reacting to resistance at 312 from the last earnings report. Risk 6 pts or less, even as low as 3 pts. Target? 10-20 points down to 300 to 290.
Look to cover when CCI drops to -100.
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