(amzn) crucial weekly chart analyze ! in our weekly chart (amzn )look very vulnerable. after piercing engulfing pattern we heading to close the week with "shooting star" that comes from (lh no'1). in our model it's create a cluster for short on a breakdown of 802.75 if so, 750/40 area will be seen fast. only breaching 843 to the upside in the next day negate this scenario. *** so it's all about the earning after hours. *** see the "candle chart" to recognize the pattern that we tacked about.
indeed after the earning (amzn) decline to the crucial support that we gave here 740/50 area. it's rallied from there to 787 (now at market). 791 is a very crucial res. only breaching it can create a new leg up. under it and 740/50 area is to be seen again !!!
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all, but all we wrote and illustrated was more than accurate.. !! for all those who used it to trade and asked us: the profit from shorting (amzn) at the 790 area is approximately between +5.5 / 7.5% (now amzn is at 732). so it's ok to take profit for at least 1/2 position and must to place stop at 769.50 to hedged +2.65% as minimum !!! we continue to stand behind the weekly illustration and numbers on chart. interload.co.il/upload/7083320.png
indeed after the earning (amzn) decline to the crucial support
that we gave here 740/50 area.
it's rallied from there to 787 (now at market). 791 is a very
crucial res. only breaching it can create a new leg up. under it
and 740/50 area is to be seen again !!!
[img]https://s16.postimg.org/wcz09hnw1/2358175bc62f3e3.png[/img]
Advanced Description:
31/10/16
indeed after the earning (amzn) decline to the crucial support
that we gave here 740/50 area.
it's rallied from there to 787 (now at market). 791 is a very
crucial res. only breaching it can create a new leg up. under it
and 740/50 area is to be seen again !!!