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$AMZN Triangle Lines Converge, Signaling Major Breakout Or Breakdown Coming This Week

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Triangle patterns by definition are consolidation patterns. The biggest issue is which direction to they break. When the two lines converge in a triangle, it forces either a breakout or breakdown. In other words, there is no other place for the stock to go when the two lines come together. In the case of Amazon (NASDAQ:AMZN), the time is now. There will either be a breakout or breakdown in the stock this week. Investors should simply watch for the first close above or belowt he triangle and either buy or short the stock. Big profits will follow as the move should be significant.


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Stock chart triangle pattern signal major move on Amazon.com


This article was written by Markus Teller for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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