AdvancedPlays

AMZN Ascending Wedge Test

NASDAQ:AMZN   Amazon.com
AMZN sold off along with most stocks after it broke below a major ascending wedge it had been forming for months. It has already failed once on a retest of this level and tried again today. It looked good to reclaim the wedge, but ultimately sold off and closed nearly right on the trendline. This will be a critical area to watch. I would normally always expect this to fail here, but I'm waiting on some more confirmation from ES and NQ before trying to short anything right now.

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