xtekky

AMAZON (AMZN) TA SCENARIO IDEA

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xtekky Uppdaterad   
NASDAQ:AMZN   Amazon.com
So I did a technical analysis on AMZN and here is my idea/point:

Bearish:

  • (not perfect) hammer candle followed by a bearish confirmation
  • Stock in a clear downtrend
  • Ema not showing any trend reversal sign or upwards correction ( no crossing movement)
  • AMZN broke a strong support level

    Bullish:

  • RSI showing a very Strong Support, so Price may bounce off ( MAY ), we need confirmation in the following Week/Days, I'll update the idea

For me, the stock is showing a lack of bullish signs and is therefore bullish, BUT wee still need confirmation on the RSI support Bounce-off/breaktrough.

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Kommentera:
I did a fault at: "a lack of bullish signs and is therefore bullish"
I wanted to say that the market "is therefore BEARISH"
( thanks @jbielski)
Kommentera:
AMZN Broke the lower support, how far will it go, till its reversal ?
Kommentera:
Next decent support is at 1.6k
Kommentera:
bounced back at 2.7 k, my short take profit was at 2.75, good trade

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