Chart of the Day: Potentially Bearish Candlestick Pattern in Amazon.com

18

Amazon.com tried to rally a week ago. It proceeded to fall on weak quarterly results, leaving some potentially difficult patterns on the daily chart .

First, the single candlestick on February 2 was isolated above the other recent prices. That is sometimes known as a bearish “abandoned baby” — essentially a failed breakout.

The location of the candlestick is potentially important. By occurring at …

For more, please click here to view the related idea and chart analysis on TradingView.

Amazon.com (AMZN), daily chart with selected patterns and indicators, courtesy of TradingView.
Advertisement
Trade in milliseconds

Explore the most actively traded options

Trade 600+ futures products on an advanced platform