AMZN - Potential Head & Shoulder formation short from $844.33

AMZN forming a potential head & shoulder. We would like to take the advantage from the top when it is forming the second shoulder, and a break of $844.33 will be a good entry point.

For trade we would consider $850 Apr/May-17 Puts, last traded for $23.75 & $38.02 respectively.

* Trade Criteria *
Date First Found- February 23, 2017
Pattern/Why- Potential head & shoulder
Entry Target Criteria- Break of $844.33
Exit Target Criteria- $802.13
Stop Loss Criteria- $858.13

Please check back for Trade updates. (Note: Trade update is little delayed here.)

交易开始:

February 24th- Traded down and hit entry price. Looking very good.

评论:

February 28th- Seems rolling over, moneyflow also turning down.
Looking good as short. $850 April Puts last traded for $25.16 & $850 May Puts last traded for $39.05.

评论:

March 8th - Consolidating within a triangle or Pennant formation, and we are looking for a downward breakdown.

评论:

March 14th - Seems forming a double top formation. Breaking below $840 will be the confirmation.