The recent AMZN short trade exceeded maximum suggested stop of a 60-minute candlestick close above 730.40 for a modest loss of 3.5% on July 6th & as such, will be moved to the Completed Trades category. I also wanted to highlight the fact that AMZN may very likely be added back soon as a new official short trade idea as it still appears that a significant correction in AMZN appears very likely based on both the daily & intraday charts as well as from a fundamental perspective.
Since breaking down below the most recent (yellow) uptrend line on June 24th, AMZN has made a marginal new high while backtesting the downtrend line from below & putting in an even more pronounced, second consecutive divergent high on the daily time frame while the weekly divergences are still very much intact & not even close to being taken out, should the stock manage to push up a little more before reversing. AMZN is scheduled to report earnings next week, on July 28th which is likely to be the catalyst to kick off the anticipated correction in this stock. The weekly chart above list the two most likely long-term downside targets for Amazon.