AMAZON Descending Triangle with Initial Target @ $313.91

Amazon has been performing below investors expectations for the past few quarters and the investor sentiment is starting to turn sour as expectations are not being met in time. From a technical aspect the Descending Triangle is proving a trading opportunity with a INITIAL TARGET of $313.91, the Elliott Wave formation also supports this trend. UPWARD BREAK @ $327.09 should be watched as a reversal of the downward trend over the next few weeks.