Chart Review: Amazon Flips Back to Bullish

The opportunity to go short on Amazon.com (AMZN) was short-lived. Just last week I pointed out how AMZN triggered a post-earnings short again. I missed the first breakdown and was looking to play a second move down. It was not to be. Instead, on Monday, AMZN flipped back into bullish territory. I followed suit by buying a call spread given my expectation that this kind of breakout will embolden more buyers to pile on.


Amazon.com flips above post-earnings trigger point
Amazon.com flips above post-earnings trigger point

Source: FreeStockCharts.com

Be careful out there!

Full disclosure: long AMZN call spread

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