AMAZON STOCK IS TRADING IN DOWN TREND IN MEDIUM TERM (SINCE BEGINNING OF SEPTEMBER-2020, CREATING LOWER LOWS & LOWER HIGHS). CURRENTLY CHART IS FORMING PULL BACK TO THE UP SIDE WHICH MAY TURN IN TO BEARISH BAT FORMATION ON H-4 AND H-1 TIME FRAME. WHICH WILL GIVE US SELL OPPORTUNITY NEAR PREVIOUS STRUCTURE RESISTANCE. USD 3300 ROUND FIGURE MARK ALSO ALIGNS WITH PATTERN.
SELL ENTRY: USD 3294 (BEARISH BAT)
STOP LOSS: USD 3311
TARGET-1: USD 3133
TARGET-2: USD 3033
STOCK MAY MOVE DOWN TO USD 2872 (RE-TEST SWING LOW OF 21-SEPTEMBER-2020 LOW) AND TRADERS CAN LOOK FOR EXTENDED TARGETS FOR UP TO USD 2900 ROUND FIGURE MARK.
SELL ENTRY: USD 3294 (BEARISH BAT)
STOP LOSS: USD 3311
TARGET-1: USD 3133
TARGET-2: USD 3033
STOCK MAY MOVE DOWN TO USD 2872 (RE-TEST SWING LOW OF 21-SEPTEMBER-2020 LOW) AND TRADERS CAN LOOK FOR EXTENDED TARGETS FOR UP TO USD 2900 ROUND FIGURE MARK.