AMZN has topped

[Saltynuts]

I agree with Overnight. And that's a rarity. We fight like cats and dogs. So if I'm actually agreeing with him, you know AMZN is fuking going to SKYROCKET. You heard it from me first...

 

[Master Pu]

I agree with Overnight. And that's a rarity. We fight like cats and dogs. So if I'm actually agreeing with him, you know AMZN is fuking going to SKYROCKET. You heard it from me first...

I'm not really disputing this, are you saying this time is now and there won't be any retracement that I expect?

 

[notagain]

Looks longterm bullish, history repeats

 

[Master Pu]

We already had a correction in the Naz a couple months ago, and a close-call correction last month. You want another one now?
How many corrections per year do you want? WTF?

Dude, listen to the loons!

If you look at NDX daily chart, an argument could be made that the correction isn't over as the right shoulder is being formed, if this triggers a sell-off it won't last that long, probably around 12,600, at which point, providing all is well, we go higher into 2022.

So before we do go for new highs, I'd expect a brief correction helped by AMZN

 

[SunTrader]

Monthly chart "sez" to the moon if/when it breaks and closes above $3490:-

 

[Saltynuts]

I'm not really disputing this, are you saying this time is now and there won't be any retracement that I expect?

I'm not saying it going to go up immediately. But either go up, or kick around a bit more then go up, before any major retracement down IMO.

 

[Master Pu]

I'm not saying it going to go up immediately. But either go up, or kick around a bit more then go up, before any major retracement down IMO.

That's cool, trade what you see

 

[Master Pu]

Monthly chart "sez" to the moon if/when it breaks and closes above $3490:-

View attachment 259840

Your chart is missing May candle.

 

[Master Pu]

So to avoid confusion, this is a short term trade, you guys are on a totally different time scale.

 

[MoneyMatthew]

Those are good levels.

AMZN has some bearish forces against it. I think it will hit 2500 within the next 4 months. It will possibly begin a recovery after that going into the holiday season. This is not a long term short.

Sell Short @ 3223
Set a Buy Stop @ 3554
Buy to Cover @ 2500

AMZN is about due for a bad quarter. The poor results will be blamed on covid restrictions being lifted and a return of shoppers to stores combined with less dependence on prime deliveries.

Increasingly poor/lower customer service by Amazon will also be a factor.

S 3223
SL 3600
T ~2600