AMZN forming a potential head & shoulder. We would like to take the advantage from the top when it is forming the second shoulder, and a break of $844.33 will be a good entry point.
For trade we would consider $850 Apr/May-17 Puts, last traded for $23.75 & $38.02 respectively.
* Trade Criteria *
Date First Found- February 23, 2017
Pattern/Why- Potential head & shoulder
Entry Target Criteria- Break of $844.33
Exit Target Criteria- $802.13
Stop Loss Criteria- $858.13
Please check back for Trade updates. (Note: Trade update is little delayed here.)
For trade we would consider $850 Apr/May-17 Puts, last traded for $23.75 & $38.02 respectively.
* Trade Criteria *
Date First Found- February 23, 2017
Pattern/Why- Potential head & shoulder
Entry Target Criteria- Break of $844.33
Exit Target Criteria- $802.13
Stop Loss Criteria- $858.13
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Trade active
February 24th- Traded down and hit entry price. Looking very good.Note
February 28th- Seems rolling over, moneyflow also turning down. Looking good as short. $850 April Puts last traded for $25.16 & $850 May Puts last traded for $39.05.
Note
March 8th - Consolidating within a triangle or Pennant formation, and we are looking for a downward breakdown.Note
March 14th - Seems forming a double top formation. Breaking below $840 will be the confirmation.
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Like what you see? Get full access to our 3X daily members only video/txt alerts & live trading room at smartmoneytrading.com/now
Check out some of our free video examples @ smartmoneytrading.com/insights/
Check out some of our free video examples @ smartmoneytrading.com/insights/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.