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Amazon’s amazing run is headed for trouble, technical strategist says

December 4, 2017

Via: CNBC

Shares of Amazon have been under pressure, and the charts are pointing to more downside, according to one technical strategist.

The stock posted its first negative week after five-straight weeks of gains, its longest winning streak since March.

Despite the impressive streak, Amazon is showing signs of short-term exhaustion around Black Friday, and a further near-term pullback is likely, said Katie Stockton, chief technical strategist at BTIG. Her analysis follows a bullish breakout in late October.

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