Possible ABC correction with AMZN for NASDAQ:AMZN by Nathanael — TradingView India

AMZN amazon Elliott Wave correction abcpattern Bearish Flag Bearish Patterns FLAG

amzn amazon elliottwaves correction abcpattern bearishflag bearish flag

Posting what looks to be a bear flag / possible ABC correction with AMZN. Starting with a safe target of 700, but I expect this to go much lower. Weekly, and monthly chart looks pretty parabolic. I am also pretty bearish with the major indexes as well.

Comment:

Here is a more detailed zoomed in count of the flag:

snapshot

and a look at the weekly chart with bearish RSI divergence that looks pretty parabolic to me:

snapshot

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