$AMZN Technical Analysis June 30th, 2022

The great Paul Tudor Jones once said, “Losers average losers”.

In this trade, I will be ‘averaging down” a winning trade.

Below you can find my original trade and analysis.

https://www.tradingview.com/chart/AMZN/pQDyszP5-AMZN-6-6-2022/

Sad to see what happened to the bag holding fanboy “investors” who bought the AMZN stock split. They say its ok because they’ll be up in 10 years LOL.

$Amazon.com(AMZN)$  Daily Chart Analysis

AMZN currently finds itself in a downtrend.

Since touching low of 102, price has started to move sideways.

During this sideways movement, price has taken form of a Head & Shoulders pattern.

You want high probability short trade? Trade bearish patterns in existing Downtrends.

We are currently in Downtrend and price has formed a Head & Shoulders pattern at 102 Support/neckline.

This is my cue to enter trade short and add to my existing short trade.

Entering trade short.

Entry: 106.19

Stop loss: 123.29

Target: 83.86, +21.03%, 1.31 RR ratio

# Technical Analysis

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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  • mster
    ·2022-07-01
    Yeah. High chance of dropping below $90 looking at the chart. Good call. 👍
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    • cuteypie
      post
      2022-07-01
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  • DonnaMay
    ·2022-07-02
    What a good post, I learned a lot.
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  • Minmin23
    ·2022-07-03
    Good
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  • Oxygen09
    ·2022-07-01
    Thanks
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  • slky
    ·2022-07-01
    Reply
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  • Jimmy90
    ·2022-07-01
    👍
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  • win2828
    ·2022-07-01
    👍🏻
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  • tyng8825
    ·2022-07-01
    Nice
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  • imayu
    ·2022-07-01
    wow
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  • 睡觉钱都来
    ·2022-07-01
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  • 虎虎年
    ·2022-07-01
    ok
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  • SK.JACKSON
    ·2022-07-01
    [微笑]
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  • Anita65
    ·2022-07-01
    😎
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  • SakuraSakura
    ·2022-07-01
    👍
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  • PeppaOink
    ·2022-07-01
    ok
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  • YiiYii
    ·2022-07-01
    [Cool]
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  • jojotay
    ·2022-07-01
    K
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  • AlfonsoDex
    ·2022-07-01
    ok
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  • RDPD富爸穷爸
    ·2022-07-01
    👍
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  • 我的礼盒
    ·2022-07-01
    [微笑]
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