AMZN’s Price May Be in An Uptrend, but RSI Suggests Caution

The Hourly View for Amazon

  • At the time of this writing, AMZN’s price is up $3.43 (0.1%) 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.
  • Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. 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 $11.08 (0.32%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 50 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 alert: Trend in AMZN’s price and its RSI are diverging. AMZN’s price is rising slower than its RSI.

Below is a daily price chart of Amazon.

AMZN

Featured Amazon Idea From TradingView

Below is a trading comment entitled Amazon Last Call. Breakout Rejection. you may find interesting:

Amazon didnt breakout from that consoladation (Banktrading). No big support in price or sustainable trend. Big pullback in price coming.

BertlinCapital