AnkitSalgia

Will Amazon continue to slide?

Short
NASDAQ:AMZN   AMAZON COM INC
Amazon is making perfect parallel channel and we are looking if price breaks parallel channel , short position can be opened when daily close is below 1720 for a target of 1410.
Another confirmation is to wait for bearish candle on daily right below channel. SL 1850

If price continues going down below 1410 it will complete double top formation. Price breakout below 1350 breaks neckline, and short positon can be opened when daily close is below 1350 for Target’s of 1210, 1010, 751..
Another confirmation is to look for volume surge around breakout of neckline.

Do your own research and if this matching with mine then you are ready to go!

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Comments

Nice FIBS, i like it !
+1 Reply
AnkitSalgia Bullandbeartrading
@Bullandbeartrading, yup it follows FIB support and resistance very well.
+1 Reply
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