On Amazon's ($AMZN) daily chart there is a bear flag forming. There is resistance at the 9SMA and 21 EMA. If price action breaks through the 9 SMA and 21 EMA, labeled "Resistance" and holds the pattern is broken. Expectations would be to tap the 9 SMA and 21 EMA and retreat. If that happens, there is downside potential at the spot labeled "Projection" additionally at this level there is gap fill.
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