Amazon long term view
Presently neutral with short bias. Will be looking to initiate a short on a break and close of the ascending channel with a stop on a weekly close back above the channel (215-230 zone). Targeting $150 and $100, taking half off upon the first target being reached.
Update: Although my chart analysis was correct, I did not end up taking a trade on this. It is still located within the confines of the ascending channel, but as I was looking for a short, i did not get my entry.
Update: Although my chart analysis was correct, I did not end up taking a trade on this. It is still located within the confines of the ascending channel, but as I was looking for a short, i did not get my entry.
Penafian
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