Six weeks ago, Joe Friday shared that Amazon looked to have created a large bearish reversal pattern at a key Fibonacci extension level. See post HERE
Below looks at an update of Amazon on a “Monthly” basis-
CLICK ON CHART TO ENLARGE
Below looks at Amazon on a weekly basis-
CLICK ON CHART TO ENLARGE
Joe Friday Just The Facts Ma’am– Amazon could be forming “dual topping” patterns over the past few months. What it does at dual support at (1), could become critical for the patterns at the stock!
If dual support would happen to give way at (2), it could encourage selling pressure and could impact the broad market.
