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GOOGL And AMZN, Part 2
Now, for a comparison, is the chart for AMZN (Amazon) using the same indicators as I explained for GOOGL (Alphabet).
There is less aqua color for AMZN.
You can see that AMZN has been moving sideways, which we call a consolidation.
If the chop zone color for AMZN remains aqua, then I believe AMZN will once again resume its long term up trend. In this instance, some technicians call this a "catch up trade".
When the up-trend resumes, use a 9 day, 20 day, or 50 day moving average as your support.
BTW, I own both stocks and intend to keep them as "long term investments".
Today’s market wisdom:
1. "Don’t blindly follow someone, follow the market and try to hear what it is telling you."
--- Jaymin Shah
2. "The market is a device for transferring money from the impatient to the patient.”
--– Warren Buffet
Don.
There is less aqua color for AMZN.
You can see that AMZN has been moving sideways, which we call a consolidation.
If the chop zone color for AMZN remains aqua, then I believe AMZN will once again resume its long term up trend. In this instance, some technicians call this a "catch up trade".
When the up-trend resumes, use a 9 day, 20 day, or 50 day moving average as your support.
BTW, I own both stocks and intend to keep them as "long term investments".
Today’s market wisdom:
1. "Don’t blindly follow someone, follow the market and try to hear what it is telling you."
--- Jaymin Shah
2. "The market is a device for transferring money from the impatient to the patient.”
--– Warren Buffet
Don.
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