AMZN Trade Ideas
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This is an interesting chart. It's been fairly strong lately and not far off ATH with the majority of other mega caps. We have this ascending channel that was temporarily broken today, but it closed back above with a big lower wick. If it gaps down below tomorrow, I'd look for short entries targeting the trendline below. That could present a good long opportunity, or it could be another short if it ends up breaking below that as well.
Nota
Didn't end up getting the downside break here. Huge breakout to the upside instead, new ATH. I wouldn't mess with this thing unless buying a dip.
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advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
ko-fi.com/advancedplays/tiers
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
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