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Here's How To Trade Amazon.com

ByInTheMoneyStocks.com
AuthorGareth Soloway
Published 07/09/2018, 02:18 PM

Shares of Amazon.com (NASDAQ:AMZN) continue to grind higher. However, unlike stocks like Facebook (NASDAQ:FB) and others, it has not made a new all-time high in recent days. In fact, Amazon has a classic bear flag wedge pattern formation on the daily stock chart. This signals a likely sharp drop in the coming month, possibly on an earnings miss. With the chart setup being strongly bearish, there is a classic way to swing trade the stock.

Short Here

Look to short at current levels of $1,730, with a stop on any daily close above the all-time high of $1,763.10. This allows for a tight, less-than 2% stop. The downside reward is fantastic, with the calculated target from the bear flag being $1,520. This is a 12% profit. A risk/reward trade setup like this is what the big players look for when swinging the market. Enjoy!

Amazon.com

Latest comments

Wrong yet again. AMZN made an all-time high today. Zero credibility as always. Anyone who follows this guy, take note of his past articles and see for yourself what his win rate is.
He was celebrating a Netflix short trade right before it completely reversed. Lol
Typical. He likes to claim a ridiculous win rate, but just look at his articles over the past year+ and see for yourself. Hilarious. Apparently, a coin flip handily outperforms his posted trades on here.
And to top it off, it seems like he was predicting a major market selloff/crash/major low after 4th of July weekend based on... and I kid you not... Mercury being in retrograde. He actually makes market calls based on what the moon and the planets are doing. Think about that!!!
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