Amazon Just Breached This Major Moving Average Level

The Hourly View for Amazon

  • At the time of this writing, AMZN’s price is up $5.44 (0.16%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move down.
  • Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
  • Of note is that the 100 hour changed directions on AMZN; it is now pointing down. 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 $14.01 (0.42%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Amazon has now gone up 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 20 day 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 5 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 daily candle timeframe, so the meaning of the candles may require further exploration.
  • Most noteworthy in the world of moving averages on the daily chart is that the 200 day moving average has been crossed, 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.
  • 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 – Let’s Fly ✈️ you may find interesting:

-Amazon, one-stop for U.S consumers when it comes to online shopping.-No need to talk about the amazing financials that Amazon has and the future potential of the e-commerce market is obvious. -What’s more exciting is the newest game launch from Amazon; The New W…

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