AMZN: What to expect next?
Hello traders and investors! Let’s see how AMZN is doing today!
Yes, AMZN didn’t trigger any meaningful buy sign in the last few days, since our last analysis, but today’s movement is interesting.
We had a Breakaway Gap, and it seems AMZN is trying to fill the gap at $ 3,290.30. It might even hit the previous top at $ 3,299.65. The problem is that we have no bullish structure around, and today’s movement can be seen just as a quick rally.
In order to do a true reversal, it would be important to see something like a bullish pivot, or any bullish chart pattern. If AMZN does a pullback to the 21 ema, reacts and breaks the previous top, it would be phenomenal. Therefore, it is important to notice that pullbacks are just part of the game, and they are very important in order to create true bullish structures.
In the daily chart, we have a good reaction too. Again, this alone is not convincing to me, as we must see more bullish signs, but if everything works out here, AMZN will fill its gap at $ 3,580.01 in the next few weeks/months.
So far, we only have the beginning of a good reaction, which is a good start. Let’s follow AMZN closely in the next few days.
If you liked this analysis, remember to follow me to keep in touch with my daily updates.
Have a good week!
Yes, AMZN didn’t trigger any meaningful buy sign in the last few days, since our last analysis, but today’s movement is interesting.
We had a Breakaway Gap, and it seems AMZN is trying to fill the gap at $ 3,290.30. It might even hit the previous top at $ 3,299.65. The problem is that we have no bullish structure around, and today’s movement can be seen just as a quick rally.
In order to do a true reversal, it would be important to see something like a bullish pivot, or any bullish chart pattern. If AMZN does a pullback to the 21 ema, reacts and breaks the previous top, it would be phenomenal. Therefore, it is important to notice that pullbacks are just part of the game, and they are very important in order to create true bullish structures.
In the daily chart, we have a good reaction too. Again, this alone is not convincing to me, as we must see more bullish signs, but if everything works out here, AMZN will fill its gap at $ 3,580.01 in the next few weeks/months.
So far, we only have the beginning of a good reaction, which is a good start. Let’s follow AMZN closely in the next few days.
If you liked this analysis, remember to follow me to keep in touch with my daily updates.
Have a good week!
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