Good Morning All,
Amazon is hitting the top of a downward channel trend, and it is my belief that is will be heading back down. Looking at the MACD I believe there is a price divergence occurring. My play is to enter a put option around the close of the market if AMZN does not break the resistance line.
Buying a put with expiration date of 2/22/2019, x price = 1600 @9.08
Lets see how it plays out... Happy Trading!
Amazon is hitting the top of a downward channel trend, and it is my belief that is will be heading back down. Looking at the MACD I believe there is a price divergence occurring. My play is to enter a put option around the close of the market if AMZN does not break the resistance line.
Buying a put with expiration date of 2/22/2019, x price = 1600 @9.08
Lets see how it plays out... Happy Trading!