The FIBONACCI levels show right now the weakness of this stock. The 0.5 level has been broken right now the price is below that level first touched in September 4, if you look the price tried to trade above this level and failed. The weekly chart has the 0.618 level at the same level than the 50 SMA.
We'll need to wait for a lower price and then have the target of...
Amazon forming a symmetrical triangle for 5 months and usually the breakout of that pattern occurs at 3/4 of its length.
Waiting for the breakout in order to trade it.
It'll be interesting to see what happens!
We also need to see an important increase of volume at the breakout as a confirmation of the pattern.
NASDAQ:AMZN
Netflix losing strength as we can see from this ascending channel breakout and struggling to reach a new all time high.
Levels to watch after the breakout of the channel, if the stock can trade above its 21 days MA average it'll have to penetrate the ascending channel and will probably trend higher and higher. If it doesn't and breaks below the 50 or 100 days SMAs...
The financial sector leading this rotating while the tech companies struggle. Goldman Sachs and this impressive uptrend and new all time highs! NYSE:GS
This stock looks really interesting because it looks like Facebook when they had all the problems with Cambridge Analytics and the Government. China is a tougher government and we don't know how the stock will react, several GAPS and rebounds with little activity give us a good environment for short selling. As I write this BABA is 2 percent down in after hours....
This stock looks really interesting because it looks like Facebook when they had all the problems with Cambridge Analytics and the Government. China is a tougher government and we don't know how the stock will react, several GAPS and rebounds with little activity give us a good environment for short selling. As I write this BABA is 2 percent down in after hours....
