AMZN - Short -
Good Morning All,
Amazon is hitting the top of a downward channel trend, and it is my belief that is will be heading back down. Looking at the MACD I believe there is a price divergence occurring. My play is to enter a put option around the close of the market if AMZN does not break the resistance line.
Buying a put with expiration date of 2/22/2019, x price = 1600 @9.08
Lets see how it plays out... Happy Trading!
Amazon is hitting the top of a downward channel trend, and it is my belief that is will be heading back down. Looking at the MACD I believe there is a price divergence occurring. My play is to enter a put option around the close of the market if AMZN does not break the resistance line.
Buying a put with expiration date of 2/22/2019, x price = 1600 @9.08
Lets see how it plays out... Happy Trading!
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.