The Amazon Eveningstar Pattern Marked the Top

By | October 28, 2016

There were signs of technical deterioration on the Amazon (AMZN) chart ahead of the earnings report, as I noted on The Street on 10/19..
The weekly eveningstar pattern marked the recent high and the post earnings report drop took out several layers of support on the daily chart, including the 50 day moving average. The next level of support is in the $755.00 level, below that is $730.00, and then the 200 day moving average in the $690.00 area.

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