Christmas is here, could it be that the…
…US Tech Retailers BABA and AMZN are set to disappoint?
Note from the chart Below:
- the OBV divergence
- the exhaustive melt up high
- The precipitative Gap sell off
- The Legacy Upside funnel run [L1 & RL2]
- The failure in the gap zone currently [RH1/2]
- 775 as a KLoS [Not Drawn]
- Meltup exhaustive gap at 90 KLoS on final melt up exhaustion run
- Small Red Head & Shoulders with 100 neckline made target at 90
- Target 90 is possible RL1 Inv HVF at KLoS [90 and H&S TGT]
- Potential Larger H&S with 90 neckline, possible TGT 70 [Both H&S’s done HVF Method manner]
- OBV falling away, new low vs RL1’s OBV value, although price yet to make it.
- Lower chart: gap for it break at 90 over the 90 KLoS
- Weak return move post gap down to 90 then new low
Conclusion with a higher probability than normal =>
…US Tech Retailers BABA and AMZN to disappoint.
Trade Short Amazon at any rally towards 775 – TGT 682, Stop at rally high post move down, initial stop RH2.
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Have an amazing Christmas week run in, trade safe and small, contact me if interested in January Trading metamorphosis Program on Trader@TheMarketSniper.com