AMZN recently broke out to the upside on the ascending triangle pattern, then failed to rally after the first pull back. After which it fell below the ascending triangle patter. I expect more downside in the coming days. There is a possibility it rallies up to earnings, although the past few earnings it failed to rally either pre or post earnings in any way shape...
It appears everyone was seeing a symmetrical triangle on amazon. However, upon further inspection you can see that infact the stock was is creating an ascending triangle.
If you look at the BABA chart we see two thing technical factors that indicate better days. 1. The massive volume spike on this last sell off. -If you look at bull, bear cylcles in markets you will find that the market lows of bear markets are marked by massive volume spikes -You can see a massive volume spike, which may indicate the bottom of the dip. 2. If you...
I was analyzing AMZN from the perspective of the symmetrical wedge. Ive had a bullish position on this stock, but it has not moved for months now. Looking at the chart from a long term perspective it seems like its about to crash hard soon.
BItcoin has been in a consilidating after a massive rally. I think this slow movement to wards resistance indicates a breakout. It usually the slow uptrends towards resistance that lead to breakout, as oppose to massive movements into resistance. Happy trading .
On the 15 minute chart you can see the symmetrical triangle, along with a ascending triangle. The trend lines indicate we should see a breakout by the end of the week.
In my previous post i saw MT hitting the moving average, which it subsequently did and rebounded from. At 23 MT is at a tipping point. Either it moons tomorrow and takes off towards 24 or pulls back to 22.75 and then bounces. Looking further out i see the trend continuing and breaking out of the ascending triangle.
It appears that AMAZON finally broke out of the descending triangle. Todays bounce reafirmed the support at the 170 area. Now it needs to breakout of this ascending triangle, which it should within the next week. Hopefully this breaks out sends amazon to 3400 - 3500 area.
BOunce on the 50ma is coming either on monday or friday. People should go long on it either before the close of today or monday. Historically it has bounced on the 50 day moving average
Last week i published that i believed it was going to breakout above above the descending triangle. However, that analysis was done with the view that the 3500 price is not the top of the triangle, but rather the 3400 level. When you redraw the descending triangle from the 3500 high it will appear that the high this week was simply just another bounce within the...
Amazon keeps getting sold down on every tick up. When the market goes up, it stays flat, and when the market goes down AMZN also falls. This shows clear signs of MM or big size movers getting out of this stock. One notable person to be selling AMZN is Masa, which I would not be suprised is the driving force behind this sell off. It appears we might soon be taking...