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.
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.
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.