Mishka1

AMZN - Will the H&S or Double top play out?

NASDAQ:AMZN   Amazon.com
TOP end view:
  • broke medium-term downtrend resistance (trendline Yellow) but did not make a new high yet.

  • Testing confluence support (trendline and horizontal support)

    Closer view:

  • Potential double top in play

  • FOMC and JOBs report are on tap this week. If FED rhetoric confirms tightening and less QE (Quantitative easing), we could see equities lower.

  • Bais will turn bullish if the price closes above the double top, will look for buy opportunities on a retrace.

If you like/dislike, agree/disagree with this analysis, let me know, love to get feedback.

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