Amazon is Down for the 6th Day in a Row

The Hourly View for Amazon

  • Currently, AMZN’s price is down $-27.18 (-0.84%) from the hour prior.
  • This is the 2nd hour in a row Amazon has seen its price head down.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 moment, AMZN’s price is down $-74.49 (-2.27%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Amazon has now gone down 5 of the past 5 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Of note is that the 200 day changed directions on AMZN; it is now pointing down. 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.

Below is a daily price chart of Amazon.

AMZN

Featured Amazon Idea From TradingView

Below is a trading comment entitled LONG AMZN you may find interesting:

AMZN losing selling pressure as it comes close to the upward trendline established back in March of this year (21). Looking to buy if we get a confirmation candle like a pinbar or bullish engulfing candle. My inner desire is for AMZN to push do to one of the lower supports to allow a cheaper buy in, but the selling volume has abated to the point that I believe we will see a bullish reversal within the coming days/weeks.

Sheentpc