Ater 7 bullish years, AMZN has experienced a -16% decline since 2022..!
It doesn't look like a bullish year and if AMZN goes down another 4% Bearish trend will be official!
-30% decrease in Price volume in 2021 in comparison to 2020 clearly shows AMZN is not considered an attractive investment anymore!
P/E 55 has a lot of room to correct in the high inflation era and slowed economy ..!
Do not forget MacKenzie Scott promised to sell all her shares!
Best, Moshkelgosha
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I'm warning you about AMZN, be careful. They've already had a 25% drop and their WEEKLY RSI is at the oversold zone now. Not just the daily - the weekly. When is the last time AMZN's weekly RSI hit oversold? November 2008. If you look at a log chart dating back to that point you can see what happened. Legendary. You HAVE to use a log chart to see the data correctly because it's meteoric.
sipiceanu
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@digital_precision, Completely agree. Thanks for the graph and sharing the info. All the analysts that predicted the $4,500/sh in 2021 were dead wrong, however that still shows their belief in the strength in Amazon which at the end of the day is the absolutely undisputed trusted leader in online shopping. Amazon is the Mercedes or cars, great reputation, absolutely reliable and great customer service. Amazon is due for a huge comeback ...
digital_precision
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@digital_precision, Amazon just jumped 17% on earnings. This is why you don't bet against them.