Just as GOOG and FB, the trend in AMZN is dead.
It's over for this growth stock for now.
Could see it decline to 1000 or even worse 765, where it would have very strong support in the form of high historical volume and probably a decade old upward trendline to resume it's mature growth trajectory.
Best momentum stock of the big 5 right now (AAPL, GOOG, FB, AMZN) with only AAPL still a hold.
However GOOG, FB and AMZN all point towards a severe correction.
If this occurs it could happen that MSFT and AAPL gets dragged along and will break it's upward trend.
I am going to assume that UBER is going to exhibit similar behavior as LYFT after it's failed IPO.
Therefore I am looking for UBER to make a second deeper dip near the end of this month which will probably take it down to 30.
Here I would be willing to take up a first position.
Monero might try to go on a significant run higher here.
Will perhaps try to find some support from the steepest trendline drawn which will ultimately fail until a lower trendline will be tested.
Wait for a substantial rally, sell then and wait for test of lower trendline.
This analysis builds on previous charts made linked below.
Ether has successfully tested and a new multi-year trendline.
This pattern of breaking a multi-year trendline to the downside during a bear market and establishing a new one during the bottoming process has returned time and time again in crypto markets.
The new trendline dictates that Ethereum is going to...
Ripple is looking very good here.
Clear wedges in both USD and BTC markets.
BTC support now at 0.00006750 and rising with 0.36% a day.
USD resistance now at 37 cents and trending downwards at 0.29% a day.
If bitcoin makes a move higher, which I anticipate, Ripple is likely to take the lead in the altcoin dance.
Ripple cannot stay in both wedges (beneath 37 cents...