Finished a massive uptrend (Green).
Is currently trading in between 64$ and 47$ which I believe is the start Distribution.
This phase can go on for months or years. Amazon has been in Distribution for a year now.
Only way to trade this is grab monthly contracts and trade between Resistance 64$ and support 47$. After Distribution phase a stock can then begin an uptrend or downtrend. A breakout or fall through above numbers will confirm the direction.
Is currently trading in between 64$ and 47$ which I believe is the start Distribution.
This phase can go on for months or years. Amazon has been in Distribution for a year now.
Only way to trade this is grab monthly contracts and trade between Resistance 64$ and support 47$. After Distribution phase a stock can then begin an uptrend or downtrend. A breakout or fall through above numbers will confirm the direction.
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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.