Amazon Closed Yesterday Up 0.31%

The Hourly View for Amazon

  • At the time of this writing, AMZN’s price is up $19.39 (0.6%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move down.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 100 and 20 hour moving averages, resulting in them so that price is now turning above them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Amazon’s hourly price chart is shown below.

AMZN

The Daily View for Amazon

  • At the time of this writing, AMZN’s price is up $10.16 (0.31%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Amazon. Given that we see downtrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between AMZN’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in AMZN’s price.

Below is a daily price chart of Amazon.

AMZN

Featured Amazon Idea From TradingView

Below is a trading comment entitled $AMZN testing support, lower high signals dip or trend change? you may find interesting:

1.6 trillion Amazon is currently in a support testing process. With only a sub 4 price to sales while growing revenue 20 ish percent a year, Amazon could continue its uptrend or simply correct in time. Historically Amazons Price to sales could go lower and be normal for its long term trend. However, the lower high and the multiple threats to support at 3200 could be signaling a desire to take profits by investors.

snlara