AMZN Trade Ideas

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.

Commentaire:

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.