AMZN Follows Our Nov 12 Negative Technical Set-Up

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    0 Inc. (AMZN) certainly has left behind a bull-trap new high on Nov 12 at 680.57, in the aftermath of a uptrend-ending, rising-wedge formation, that has resolved into a sharp, downside reversal and correction to this morning's low at 622.77 so far. Let's notice that AMZN is testing its Sept 29 support line in the vicinity of 620-621, which if violated and sustained, points to downside continuation quickly towards 600.

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