Amazon is Up for the 3rd Day in a Row

The Hourly View for Amazon

  • At the moment, AMZN’s price is up $3.09 (0.09%) 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.
  • 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 moment, AMZN’s price is up $25.58 (0.78%) from the day prior.
  • This is the 3rd day in a row Amazon has seen its price head up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 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.
  • 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 Amazon – Monthly Chart you may find interesting:

Zoomed out view of Amazon starting from 2008/09.This stock has only gone up since the financial crash.I would expect the same should there be one with the USD.Currently within a range, last time we wicked above we continued higher.Alternatively, a candle close below this range will be a clean move down.

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