Amazon Just Breached This Major Moving Average Level

The Hourly View for Amazon

  • At the moment, AMZN’s price is up $0.7 (0.02%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Amazon. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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 time of this writing, AMZN’s price is up $26.63 (0.82%) from the day prior.
  • This is the 2nd day in a row Amazon has seen its price head up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 50 day moving average, resulting in them so that price is now turning above it. 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 Daily analysis on Amazon!! you may find interesting:

After a sharp rise in the course of 2020, Amazon’s equity curve has stabilized. I think there isn’t much before the rectangle breaks. It is after the breakout that we will consider whether to buy or sell Amazon shares !!!

OumarAmbaJr