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Amazonshort

AMZN - Have we reached the top?Labeled some key levels of significance and used a fib retracement chart to estimate landing zones. Prior mini-tops retraced to about the .5 fib level. The larger cycle correction could also obey this level but may drag lower to the .618 range, which is why I gave a range for where the price could land. ~1600 is a key level of significance, if it breaks we will be going much lower. The real question is, can amazon reach ATH? Watch the volume carefully when we have the bounce back up. Should be good indicator for remaining bull strength.
NASDAQ:AMZNShort
by unaveragejoe
Amazon Elliott Wave View: Favoring More Downside $AMZN short-term Elliott wave view suggests that a decline to $1685.99 low ended black wave ((W)). The internals of that decline unfolded as Elliott wave Flat structure. Up from there, a bounce to $1856.92 high ended black wave ((X)) as Elliott wave zigzag correction. Where blue wave (A) ended in lesser degree 5 waves at $1809.88 high. A pullback to $1734.23 low in 3 swings ended blue wave (B). And finally, a push higher towards $1856.92 high ended blue wave (C) of ((X)) in another 5 waves. Down from there, Amazon has made new lows already confirming the next extension lower in black wave ((Y)), thus favoring more downside. The initial decline to $1653 low ended in red wave W. Above from there we are calling red wave X complete at 1797 and as long as it stays below that level but more importantly below 1856.92 it should see more downside. We dont like buying it as the right side is to the downside.
NASDAQ:AMZNShort
by Elliottwave-Forecast
AMZN Short (Rough Outlook)I have traded crypto-currencies for 5 years and I have traded various OTC stocks. It has come to my attention that YOU the trader should short Amazon. It is extremely overvalued and you will have a better chance of making money on the way down (far more selling momentum at play) than you ever would betting long for the next Quarter. The bear market is coming so to bet long on Amazon you'd not only have to fight against the downtrend markets, but you would have to make a substantial risk.
NASDAQ:AMZNShort
by RomanaFinancials