It seems like $AMZN is forming a doji. On the Ichimoku chart, $AMZN is trading above the kumo with a fairly strong Tenkan sen. It is likely to find support at around $239 and $231. It needs to break the kumo support at around $225 to $220 for a short.
$AMZN has a breakout from the kumo with a great price surge yesterday. The price surge invalidate my bearish view on AMZN and I will be closing my SHORT Vertical CALL spread.
AMZN dropped to around $172 after its poor earnings back in early Feb. It has since try to rally but fail to breakout of the kumo resistance. It is now trading around $182 and is very near the kumo support. Right above it is both the resistance from Tenkan sen and Kijun sen. I believe… Continue reading $AMZN . May break kumo support. Bearish.