$AMZN : Amazon forming a doji?

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 . Breakout from kumo

$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 . Right at the kumo.

$AMZN price level is currently right at the kumo.

The kumo is very thin now; suggesting that there is very little support below or resistance ahead.

However, the Ichimoku chart is also showing a small kumo twist suggesting bearish move ahead.

Vested with a SHORT APR CALL spread. Bearish.


There is also a Bullish Tenkan sen – Kijun sen cross. Given the thin kumo, it can go either way. Hence, my preference for a SHORT CALL spread to minimise my risk.