AMZN pennant easy points to downsid

Self explanatory. See me line I drew where I projected the path of the chart.

Nota

So Amazon broke down as anticipated, and shot back up after Christmas. I haven't been updating this idea, but basically We're not out of woods yet. Amazon is a bubble and it should look to move much lower. This trillion dollar stock is moving around quite crazy. The reason why is because their operating costs are so high, but their profit, while it is is a record profit, it's only a tiny bit above their operating costs.

The Amazon bubble will collapse the first time the economy even slows down. And the global economy will slow down.

Nota

Typo on last sentence ; the global economy has* slowed down.

MidasTouchTrading

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