Bear flag forming on AMZN; could head lower.

19 sept. 2019

Amazon (AMZN) is currently forming a bear flag formation. Price has been consolidating along the 200 day moving average, with downward pressure from the 50 day moving average. Watch for a break below the 200 day moving average that I have colored in Red. If that happens, Amazon could return to the 1560-1620 support zone, as the measured move of the bear flag lands the price close to that region.
MA Guide (All daily for this post):
50 day MA in Green.
200 day MA in Red.

-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.

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19 sept. 2019

Note

Here's a bit of a cleaner view of the bear flag formation:

23 sept. 2019

Note

Hanging right around that 200 day MA:

25 sept. 2019

Note

Broke below the 200 day moving average, heading toward that support box:

25 oct. 2019

Note

Tagged daily 377 EMA in Grey to a tee: