$AMZN Bear Flag Daily
Updated
On Amazon's (
AMZN) daily chart there is a bear flag forming. There is resistance at the 9SMA and 21 EMA. If price action breaks through the 9 SMA and 21 EMA, labeled "Resistance" and holds the pattern is broken. Expectations would be to tap the 9 SMA and 21 EMA and retreat. If that happens, there is downside potential at the spot labeled "Projection" additionally at this level there is gap fill.
AMZN) daily chart there is a bear flag forming. There is resistance at the 9SMA and 21 EMA. If price action breaks through the 9 SMA and 21 EMA, labeled "Resistance" and holds the pattern is broken. Expectations would be to tap the 9 SMA and 21 EMA and retreat. If that happens, there is downside potential at the spot labeled "Projection" additionally at this level there is gap fill.Note
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