Amazon Chart Bounces Off Trend Line For 6th Time: Trade It This Way

Amazon ($AMZN) bounced today off an up-sloping trend line that starts in February 2016. This trend line has been amazing, holding price in a near vertical climb. How To Trade It As long as Amazon stays above that trend line, it has the ability to go higher. It is far too overbought at this juncture to buy, but wait to short until it cracks that trend line. Once below it will be an epic drop, potentially north of $120.00. That fall would take Amazon to at least the current 200 daily moving average at $645.00. Signup to Verified Investing and get access to live trades from 1000's of Pro Traders. Verified Investing verifies every trade taken and compiles verified track records for every Pro Trader. This is shown to the public for total transparency. Users never reward a Pro Trader unless they get winning trade information after clicking 'Get Alert'. There is no website like this out there. Signup now!