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Amazon.com
Short
Updated

Possible ABC correction with AMZN

Posting what looks to be a bear flag / possible ABC correction with AMZN. Starting with a safe target of 700, but I expect this to go much lower. Weekly, and monthly chart looks pretty parabolic. I am also pretty bearish with the major indexes as well.
Note
Here is a more detailed zoomed in count of the flag:
snapshot

and a look at the weekly chart with bearish RSI divergence that looks pretty parabolic to me:
snapshot
Nathanael
abcpatternamazonAMZNBearish PatternsBearish FlagcorrectionElliott WaveFLAG

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abcpatternamazonAMZNBearish PatternsBearish FlagcorrectionElliott WaveFLAG
Nathanael

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.