Amazon (AMZN) Closes Last Hour Down $-0.97; in a Downtrend Over Past 14 Days, Heads Down For the 3rd Straight Day

The Hourly View for AMZN

Last Updated September 15, 2020, 23:10 GMT

At the moment, AMZN’s price is up $59.68 (1.92%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Of note is that the 20 hour changed directions on AMZN; it is now pointing up. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50 and 100 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Amazon Com Inc Daily Price Recap

Amazon Com Inc came into today down 0.43% ($13.25) from the open of the day prior, marking the 3rd straight day it has gone down. The change in price came along side change in volume that was down 11.81% from previous day, but up 16.05% from the Monday of last week. Let’s take a look at the daily price chart of Amazon Com Inc.


Amazon Com Inc Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. For additional context, note that price has gone up 15 out of the past 30 days.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to AMZN:

    $PTON Stop the $AAPL as competition, they are both wonderful companies, Apple is simply the best company in the world, Peloton is its own animal, $TSLA is the car of choice…what do these 3 have in common? ….the most important thing in business– a devoted user….and wait there's more..What helps makes the perfect life today?
    Drive a Tesla, talk and play on your Apple phone, and exercise on a Peloton bike….you can call it shallow, but admit it that is the way we want to live, ….and order everything from $AMZN and your "IT"