Amazon.comShort
Amzn
Earnings this week.. long term channel (Yellow)
Mid term channel (White)
In my last Amzn post (See link)
I said Amzn could grind at the top of it's long term channel after a pullback from 230, and it has.. from 218 - 237 and now we are at a crossroads this earnings..
Both scenarios will end in a massive correction but one scenario could give a 7% pop higher before hand .
In this scenario Amzn pops up after earnings and tags the top of secondary channel or 253.. at this 250ish area is where I would open a short positions.. target 230-234.
2nd scenario is the complete Bearish with no move higher
Price pulls back from primary channel and corrects to the 50sma.. if 50 is lost then 200.00 or 200sma is next
Let's see what happens..
Smaller levels
234 support , below 234 and 230 comes ..
20sma is at 228 , I doubt they give that up before earnings
Mid term channel (White)
In my last Amzn post (See link)
I said Amzn could grind at the top of it's long term channel after a pullback from 230, and it has.. from 218 - 237 and now we are at a crossroads this earnings..
Both scenarios will end in a massive correction but one scenario could give a 7% pop higher before hand .
In this scenario Amzn pops up after earnings and tags the top of secondary channel or 253.. at this 250ish area is where I would open a short positions.. target 230-234.
2nd scenario is the complete Bearish with no move higher
Price pulls back from primary channel and corrects to the 50sma.. if 50 is lost then 200.00 or 200sma is next
Let's see what happens..
Smaller levels
234 support , below 234 and 230 comes ..
20sma is at 228 , I doubt they give that up before earnings
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.