Amazon (NASDAQ:AMZN) was featured in our newsletter as an ideal short-sell set-up.
All it did was rally on light volume back up to resistance at its downtrend channel line.
It’s at that point, we initiated a short-sell position in this issue.
Prior to its earnings release, we decided to stay with the issue and hold it through earnings because the issue had overhead supply at the moving averages was overbought and had just made a short-term run.
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Disclosure: No positions