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AMZN Follows Our Nov 12 Negative Technical Set-Up


Amazon.com Inc. (AMZN) certainly has left behind a bull-trap new high on Nov 12 at 680.57, in the aftermath of a uptrend-ending, rising-wedge formation, that has resolved into a sharp, downside reversal and correction to this morning's low at 622.77 so far.

Let's notice that AMZN is testing its Sept 29 support line in the vicinity of 620-621, which if violated and sustained, points to downside continuation quickly towards 600.

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