AMZN Local Top
Updated
We're seeing a consolidation in AMZN that will eventually break and serve as a catalyst for further rallying or selling in broad indices. As marked on the chart, similar-duration past consolidations in the stock have resulted in an eventual washout bottom 50% lower than near-term highs. Four of the past six AMZN consolidations have ended after washout bottoms.
Note
Three of the past five*...
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