I’ve made some nice coin off of Amazon.com (AMZN) over the past year.
However, if there ever was a time to sell the stock, right now is the time.
The LAST 7 TIMES we have seen the stock sell-off dramatically for at least 2-3 weeks every time the weekly chart of AMZN has broken hard through the upper Bollinger Band.
That is history and consistency I don’t want to mess around with.
I don’t currently have a position in this stock, but I will consider trading it short at the start of next week, expecially if it fails to break through and hold the $300 level at the end of this week.
When stocks are as bullish as Amazon (AMZN) has been it can be hard to imagine a strong 2-3 week retraction, but mark my words, it is going to happen, and happen very soon.
Here’s the breakdown on Amazon (AMZN):
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