Amazon
11/15-11/19 watchlist #3 $SHOP $1650, $1620 BOUNCE
Price targets: $1675, $1700
Technical Analysis: All-time high breakout & momentum bounce
News Catalyst: "In a week of whipsaw or negative action in many highflying stocks, Shopify stock made a powerful move Friday, clearing a trend line break in huge volume, offering an early entry in the morning and ultimately clearing the 1,650 Buy point" - Investor's Business Daily
AMAZON failed to break the resistanceAMAZON failed to break the key level of a long range which may lead to huge dip with all new investors that came last year.
Old investors were distributing their stocks to new ones for a very good price.
The short position is possible.
The best buy opportunity is at or around trend line.