Left "shoulder"-- May, peak about $230
"Head"--late September, peak about $262
Right "shoulder" --completion now, peak last week around $255, now rolling over.
Neckline (slightly sloped) around $220, which also is the 200 day moving average.
Break of neckline confirms H&S top, and points down to $180 or lower.
Volume confirms H & S pattern: volume peaked on the left shoulder in May, and has dwindled into the head and right shoulder.
Summary: Sell. Right shoulder failures usually lead to panic seeling when the crowd catches on.
Nothing seen today changes that. Right "shoulder" still intact.
Sentiment: Strong Sell
Indeed. Slammed it's head against right shoulder high today, and then sold off.
i think amzn's balls are hanging also. when they get down to the knees it's a buy
Sentiment: Strong Buy
Good analysis "to Josie". No argument here.
I hope it hits 180 i buy every month for the long haul. It would be nice to pick up shares at 180 or lower for a world class company like amazon.
I remember when analyst said Netflix was world class in 2011 right before it peaked at 300 and fell straight to the 100's. Who killed the stock then?
Good read... Sybs concurez.
Nice analysis. Let's hope it's accurate. I have PUTS at this time.