Since Amazon broke down from the H&S it bounced back really hard. Overshot my bounce target by $150. Now its getting rejected by the 200 MA. I think this is the top for this bounce and seems like trading in a descending channel (FB did for 5 month). Next Target $1200.... Lets see how it plays out. Over all Target this year $935. In the Long term a lot lower @ around $300-400(fair value)...Also all the Major Indices is topping right at the 21 Monthly moving average since it broke bellow it.
Trade active
If this analysis right, we should hit $1200 in 11-12 trading days Trade active
We gonna go down
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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.