$AMZN upside and downside firm . No big move upside 3200-3240 max down side 3000 max favoring bulls as per count abcd . But we are not going anywhere outsiders the triangle until next year. triangle break up or down will make traders very interesting on Amzn .
@sanoptiontrades I understand however, if you have noticed, none of the positive news on $AMZN ( ie pharmacy, strong Oct ER, strong digital advertising rev, strong continued e-commerce retail sales growth etc.) has helped it’s stock with positive upward momentum. Amzn is trading in a narrow range within the symmetrical triangle for a couple of weeks looking for a breakout. If you look at the chart attached, do you think there is enough selling pressure that amzn may drop to SMA 200 ~$2700 in the near term and then bounce back before ER in Feb? Your guidance is much appreciated.