AMZN update

Then July 24, 2015 and now charts.

amzn july 26 2015 sAMZN aug 12 2015

The high was $580 on the exact date of the previous blog. Today we hit $513 so that is a loss of $67, or 11.55% in 18 days. How did we guess? First EW but secondly the very simple fact that RBCDS put this stock on their list as the top pick. We expect $300 soon as that is the base of the triangle in the chart. In case you are confused, when RBC designates a stock as a top pick it means that they like it a lot, it does not mean that they think it just topped. A month or two from now it will quietly be removed and replaced with another momentum stock that happens to be in the limelight, without an explanation of what went wrong.