Hi everyone! how you are guys doing? today I would love to talk with you about Amazon and share some "personal thoughts" about it, so let's get started with the past price movements;
In the period between Feb to Aug 2018, we can see in the chart that the price was moving upside supported by 80MA but since then 'Aug' the price made the highest high of all time which is in $2050 level and the price starts to fall down till today.
Now, why Amazon fall is a little bit different from any other stocks, for one reason. when Amazon drops down the price didn't break the trend-line of the major channel, Yes there's a candle closed below the trend-line but you can see all the rest for the candles was back up inside the channel (I'm talking here about the Morning Star candlestick on 11 Oct 2018).
So now we can see that the price still moving between the Lower-Line of the Bollinger band and Middle-line which is (20MA), and also we can see how 20MA willing to cross under the 80MA, Now I hope by Tomorrow this does not happen because it's would be a Negative sign for AMZN and this move will not help the price at all in the period. so hope Tomorrow 'Monday' we can Open the market with a Big amount of volume so the price stays inside the channel and this will help the 20MA to stay above the 80MA till the ER release.
Why "ER" will make a huge difference:
Of course, a lot of people waiting for ER not only trader because it shows a lot of information about the company and her state, In other words, we'll be able to know how much the company is health by looking to the ER Numbers.
Amazon always shows positive movements after ER release to the public so I simply expect the same thing now could happen and this for sure will push the price to break some resistance levels like $1878 and $1923 before retesting the $2050 level
So yeah, this is "my thought" about Amazon for the Next week, To the Next Sunday, have fun.
In the period between Feb to Aug 2018, we can see in the chart that the price was moving upside supported by 80MA but since then 'Aug' the price made the highest high of all time which is in $2050 level and the price starts to fall down till today.
Now, why Amazon fall is a little bit different from any other stocks, for one reason. when Amazon drops down the price didn't break the trend-line of the major channel, Yes there's a candle closed below the trend-line but you can see all the rest for the candles was back up inside the channel (I'm talking here about the Morning Star candlestick on 11 Oct 2018).
So now we can see that the price still moving between the Lower-Line of the Bollinger band and Middle-line which is (20MA), and also we can see how 20MA willing to cross under the 80MA, Now I hope by Tomorrow this does not happen because it's would be a Negative sign for AMZN and this move will not help the price at all in the period. so hope Tomorrow 'Monday' we can Open the market with a Big amount of volume so the price stays inside the channel and this will help the 20MA to stay above the 80MA till the ER release.
Why "ER" will make a huge difference:
Of course, a lot of people waiting for ER not only trader because it shows a lot of information about the company and her state, In other words, we'll be able to know how much the company is health by looking to the ER Numbers.
Amazon always shows positive movements after ER release to the public so I simply expect the same thing now could happen and this for sure will push the price to break some resistance levels like $1878 and $1923 before retesting the $2050 level
So yeah, this is "my thought" about Amazon for the Next week, To the Next Sunday, have fun.