Trading idea number S-020 | Amazon stock could fall to $114 area.
The configuration is negative. The RSI is below the neutrality area at 50. MACD is below its signal line and negative. In addition, the stock is below its 20-day and 50-day moving averages.
The pivot point is found at 132, near the 20-day SMA. Just above at 134.36 the last strong resistance on the 50 SMA where we may have a potential stop loss.
📉 Short Entry at 129.67
💰 Take Profit at 114
💸 Stop Loss at 134.50
The configuration is negative. The RSI is below the neutrality area at 50. MACD is below its signal line and negative. In addition, the stock is below its 20-day and 50-day moving averages.
The pivot point is found at 132, near the 20-day SMA. Just above at 134.36 the last strong resistance on the 50 SMA where we may have a potential stop loss.
📉 Short Entry at 129.67
💰 Take Profit at 114
💸 Stop Loss at 134.50