Here’s another chart on AMZN but a 120-min chart showing the full scope of that previous trendline which triggered the last objective short entry:

I can’t make a decent case to short AMZN right now. Remember, divergences are not a sell signal just as a stock becoming overbought isn’t a sell signal either, merely an indication that the odds for a correction are starting to increase. Divergences can continue to build for quite some time before playing out with a correction & although more often than not they do play out for correction, sometimes they don’t with the divergences being burned through (i.e- taken out or negated, as the stock continues to climb).

Most importantly, AMZN doesn’t have anything remotely close to a sell signal right now. That could come any day & sell signals can come in various forms such as a bearish candlestick reversal pattern or a break below a well-defined trendline or price support level. Shorting AMZN here would simply be a pot-shot, counter-trend trade.

Here’s a 60-min chart of AMZN showing the last two objective short entries along with the next objective short entry, although we could also get a bearish candlestick reversal before this wedge breaks down in which case, one could take a 1/2 (starter) short position, adding once the wedge breaks down impulsively.

I see rsi divergences developing on Amzn daily/weekly chart. Do you think it would be a good opportunity to short Amazon now …

best of luck. i’m hoping for at least 25 in tvix, once it starts moving up it will be vertical.