Amazon’s Hot Streak: Up 8 of the Past 10 Days

The Daily View for Amazon

  • At the moment, AMZN’s price is up $24 (0.72%) from the day prior.
  • Amazon has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • 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.

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 $43.5 (1.31%) 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.
  • As for the trend on the daily timeframe, we see the clearest trend 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 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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 AMAZON COM INC you may find interesting:

If the share price breaks that support and collapses below 3394.00It will continue falling afterwards to 3352.00 and 3323.00But if it breaks that upside resistance and the Amazon share price becomes above 3430.00, then it will continue in the upward trend, and the share price could reach 3450.00 and 3470.00 during this day.

SOUFIANE_GR1