Amazon is Down for the 5th Day in a Row

The Hourly View for Amazon

  • At the moment, AMZN’s price is down $-12.68 (-0.39%) from the hour prior.
  • The hourly chart shows that Amazon has seen 2 straight down hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Amazon’s hourly price chart is shown below.

AMZN

The Daily View for Amazon

  • At the time of this writing, AMZN’s price is down $-6.65 (-0.2%) from the day prior.
  • Amazon has seen its price go down 5 out of the past 5 days, thus creating some compelling opportunities for bears.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • 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: Some scenarios to work with! you may find interesting:

Hello traders and investors! Let’s see how AMZN is doing today! Since our last analysis, AMZN triggered the bullish signs we were focusing on, and it went up nicely, until it gave us a reversal sign. Now, AMZN is not bullish anymore, but it is still not bearish at all. Since we just retested the previous support level at $ 3,305, AMZN has been moving sideways. The volume is very high, and this might indicate that the moment it starts to react, we’ll see something good around. Now, let’s work w…

Nathan_Black