$AMZN TOP 20
Added 2024-03-06 22:16:07 +0000 UTCOk so we have two bearish formations here with $AMZN.
The first one is the ascending red triangle, which broke down yesterday, which is why I sold 20% of my $AMZN holding, losing this triangle meant that the 50 MA on the 1hr chart could not be held either.
Today we also go a rejection getting back above the 50 MA too $175.43.
Today the price also topped out at the horizontal red line at $176.43, which was also the high on the 26th of Feb, meaning we have a small head and shoulders pattern forming, inside a larger head and shoulders pattern (shown).
A new low below $173.20 tomorrow and I am selling another 20%.
We are nearly up 2% on $DG from our $AMZN sell only yesterday, so our strategy is going to plan as it stands.
$AMZN I will be buying very aggressively back in once it completes its ABC correction and below $134 is my target.
