Amazon witnessed a massive selloff on Friday, making it vulnerable for more selling pressure. If the price end up next week Monday with another rejection candle, the stock price will likely pullback to last support level
Bullish divergence on the Daily on the MACD and the RSI - green line
We can see how the price consolidates inside in what it seems to be an ascending triangle - blue line. Formations like this tend to break upwards.
Regardless the direction of the breakout , we currently trade in the low are of the consolidation and just bounced off the demand trend-line...
AMAZON - Basic trend analysis shows long-term trend-line BROKEN. Bearish momentum is fully confirmed by market structure breaking to create LOWER-LOWS. Small bounce at support is NOT giving HIGHER-HIGHS to confirm bullish continuation.
Not normally the way I analyse charts but, SPQR Media have brought it to my attention a possible inverted shift of trends...
I know that you all want to short the AMZN thinking that is game over but no reason to rush. The stock is in the broadening wedge megaphone formation and we might see another top side revisit. The Monday open will give us either gap up or gap down.
This is really like a David and Goliath story. Amazon is the big Giant and many traders with smaller accounts may not be able to take it on.
In the screencast I show why I estimate cautiously a key position with probability for the south. Note carefully that every probability estimate in one direction leaves a probability for the other direction.
I'd like to...
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
AMZN is expected to fall further. In the exchange rate I expect a double-wave reduction. The bottom of the decline is the 1421 usd level environment. Turning from level to level, we are likely to see a slower growth of 10 months.
AMZN exchange rate correction. The exchange rate may be an ABC waveform correction. The support of the first wave structure (0A) can be provided by a parallel shaft of a wave axis. Then we expect a shorter rise. Correction wave structure (AB) is equal to the D1 ATR axis. From this level, the second major decreasing wave structure (BC) could be formed, supported by...
Amazon.com, Inc. offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company's products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. It also manufactures and sells electronic devices. The Company, through its subsidiary, Whole Foods Market, Inc., offers healthy and organic food and staples across its stores. The Company also offers a range of products like whole trade bananas, organic avocados, organic large brown eggs, organic responsibly-farmed salmon and tilapia, organic baby kale and baby lettuce, animal-welfare-rated 85% lean ground beef, creamy and crunchy almond butter, organic gala and fuji apples, organic rotisserie chicken.
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AMZN
