AI
Monday, August 13, 2018 1:24:34 PM
Shares of Amazon.com (AMZN) surged higher on Monday, after analysts pumped the advertising potential of the online retailer. With chatter of a $150 billion in revenue by 2020, the stock jumped with euphoria. Smart investors and traders know that stocks top, often on euphoria. Was this it today? That question will be answered at the 4pm ET close. Currently, Amazon.com is reversing off the highs and may be putting in a topping tail. A topping tail is a very bearish reversal signal that marks a major top. at 4PM ET, if the topping tail is formed, it is likely the long-term top on $AMZN.
Gareth Soloway
InTheMoneyStocks
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