RSI: Support level 32-35 - resistance level 70-75 - currently at 50: Medium buy
WMA: 50 day WMA crossed above it's 200 day WMA in Jan: Strong buy
Trend lines:
- 5 year trend line supports long term bull with higher lows: Stong buy
- Oct 18'-Feb19' highs is Aug19'-Dec19 lows i.e previous resistance level becomes new support level: Stong buy
- Ascending triangle: Medium buy
Short term could fall back to $1750 level if it losses support at $1900. However if it gains momentum and the bulls can keep it above $1900 for the next few days then the next resistance level will be $2000.
Long terms Amazon seems like a safe bet to me.
(This is a personal opinion and should not be considered an advise).
What's y'all take on Amazon both short and long term?
WMA: 50 day WMA crossed above it's 200 day WMA in Jan: Strong buy
Trend lines:
- 5 year trend line supports long term bull with higher lows: Stong buy
- Oct 18'-Feb19' highs is Aug19'-Dec19 lows i.e previous resistance level becomes new support level: Stong buy
- Ascending triangle: Medium buy
Short term could fall back to $1750 level if it losses support at $1900. However if it gains momentum and the bulls can keep it above $1900 for the next few days then the next resistance level will be $2000.
Long terms Amazon seems like a safe bet to me.
(This is a personal opinion and should not be considered an advise).
What's y'all take on Amazon both short and long term?