Tuesday, May 21, 2013

AMZN losing Momentum as well

I wanted to add to an AMZN equity short position, I was hoping A?MZN would be able to break above at least the $278-282 area and really >$285, but it seems to be losing its foothold here, I'll probably keep a pretty close eye on it as to whether I want to look at adding to the position at these levels which do not reduce risk as much as I'd like.

 AMZN 1 min trend-leading negative

2 min negative as well... the trend for the 2 min chart also looks similar to the one above.

 AMZN 5 min where it's a bit more important

And the 15 min which is much more important, I'd like to see the current 3C turn down and lock in that divergence.

The 60 min chart shows the area I wanted to see AMZN move at least to, the 60 min chart is breaking down well before we are at that area so I think AMZN needs to be watched closely.

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