Chart of the day

AMZN is breaking below the rising wedge 133 and could extend lower to 122. This break is possibly validating the end of the long-term fourth wave lower.

A break above 136 is now required for an extension higher and an upside continuation. A confirmed break below yesterday's low of 128 would confirm that a medium-term top is in place and a swing lower to a key downside resistance of 122 would take place. 122 is the most significant downside resistance now and a break below is required for a complete reversal downside and an extension to 108.

The long trades, you can open only upon a confirmed break above 136. Short trade entries you can open immediately or upon a break below 128 with the stop loss just above 132. You can buy puts as well.