E-commerce giant Amazon.com (AMZN) is known world-wide and maybe in other universes, but in the long history of stock prices man has discovered that trends can and do change. In this daily and monthly charts of AMZN, we see a potential downside price target in the $100-$75 area. Avoid the long side for now, but rather than what the charts are suggesting – further weakness is possible – is possible in the weeks and months ahead. The chart goes back 10 years and the longer-term uptrend has been broken (trendline not drawn) Prices have made a very rounded top formation the past three years. Prices have broken down from this top and trade below the declining 40-week moving average line . . .
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