Amazon is looking weak and despite the bullish reversal of SPX on Aug 19, Amazon dropped further. Aug 19 is a key reversal date for many stocks.
Not recommended to go long on amazon anytime soon but one could place a short or a bear call spread at 3550 level, which could be safe. Amazon broke 3300 support level and this is bad sign.
Further drops to come
Not recommended to go long on amazon anytime soon but one could place a short or a bear call spread at 3550 level, which could be safe. Amazon broke 3300 support level and this is bad sign.
Further drops to come
