If you are interested in AMZN, this may be the last decent set up with fairly low risk (although I wouldn't put a stop RIGHT under the 5 min/50-bar ma, it's too obvious.
Tuesday, April 30, 2013
AMZN Update
The 5 min-50-bar has been tagged...
And there it is...
The 1 min is starting a positive divergence right at the tag.
The 2 min chart shows the distribution intraday for the pullback (1 and 2 min negative divergences almost always = at least intraday pullback whereas 1 min negative alone usually=consolidation). We are starting to see some positive migration from the 1 min chart.
The 5 min chart saw no damage on the intraday divergences and is still in good position to carry on a move to the upside.
Finally just out of curiosity, my DeMark inspired custom "Buy/Sell" indicator with several pretty decent sell calls and a recent buy call.
If you are interested in AMZN, this may be the last decent set up with fairly low risk (although I wouldn't put a stop RIGHT under the 5 min/50-bar ma, it's too obvious.
If you are interested in AMZN, this may be the last decent set up with fairly low risk (although I wouldn't put a stop RIGHT under the 5 min/50-bar ma, it's too obvious.
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