Remember MMs are competing with each other (which implies balance of position). I think they have less of an impact than you assume.
Amzn
- Thread starter pumpanddumper
- Start date
Remember MMs are competing with each other (which implies balance of position). I think they have less of an impact than you assume.
AMZN back to almost flat. At this level, AMZN look cheap, $3 bil in rev per Q
Anyone still have any sentiment on this one? I'm looking for a rounding off top here...I don't see what will strongly push this much higher short term. Looking to go short(via Puts). Already bought a few initial lots this morning.
Looking at the 3 month chart and the solid white candles a run to 70 is likely
That's some intelligent advice. Thanks
On the daily chart, the volume is obviously slowing down, without a surge in volume to absorb these shares bought at higher prices or profit-takers, expect more drift to the downside. Looking for 38.2% retracement around $56.5 as the target price:
To the micro-level, on the hourly chart, the trend is down and technicals are weak. Price is below 30 period WMA, formed a nice downtrend channel. If the price falls below 60.7-60.87, expect a quick drop to $58.85:
On the monthly chart, it has finished a "W" formation. Would it go higher in the long-term? Maybe, the technical indicators are not topped out on the monthly timeframe. But we may see a short-term correction first before the next leg up.
To the micro-level, on the hourly chart, the trend is down and technicals are weak. Price is below 30 period WMA, formed a nice downtrend channel. If the price falls below 60.7-60.87, expect a quick drop to $58.85:
On the monthly chart, it has finished a "W" formation. Would it go higher in the long-term? Maybe, the technical indicators are not topped out on the monthly timeframe. But we may see a short-term correction first before the next leg up.
wow those are some very detailed charts