Hello everybody, hope y'all had an amazing weekend, today I would love to talk about AMZN and GOOGLE and talk about happens for the last week as usual.
First I want to talk about those two stock in one post together for a reason, because I saw that those two stocks moving side by side 70% of the time last week also they are now about to face the same problem or "challenge" in another word.
alright so let's start with Amazon, we can see the candlestick in Daily timeframe at 11 Oct "18 ended as a Doji and in the same Date the same Candle in Google was ended up as a Doji, But the main difference Is that Google candle ended up as a "Bullish" candle but with Amazon the Doji was Red "Bearish".
And we all know that when Doji made after a gap down happened that's mean we could see signs of a revers. of course this is not a 100% sign of a revers that's why we need more information and other values to confirm if revers going to happen or not.
Amazon and Google in Daily timeframe they're both in Oversold area if we check on the Stochastic, So this gives us a better idea where the next move going to be, So now the price is Oversold and we have a Doji (Morning Star) But, we still not have a great sign of a revers, and the reason for that is:
Amazon is far away about 4% from the 80MA and 5% from the first resistance level ($1878.57)
&
Google is far away about 7% from the 80MA and 4% from the first resistance level ($1165.92)
And my 'personal perspective' I wouldn't see my confirmation sign if the price still moving oversold, NOTE: when the price come down to oversold zone it's important to know it may stay moving in the same area for a long time without showing any sign of revers, like Facebook for example.
and for me, No confirmation, No position, it's easy.
So, what's the next move could be:
I said that Amazon and Google moving side by said last week but of course the next week the results will be different because every stock have a different kind of challenges,
Depending on the current situation, the first thing Amazon & Google need to have next week is big amounts of liquidity, and I guess this going to happen because the market now represents a good opportunity for buyers what's gonna move the market up.
Amazon to win in the first challenge when it came to volume but for Google, we need to wait and see how the traders "bullish specifically" will respond.
After breaking the 80MA it will be easy for Amazon to break the Resistance level of($1878.57) when the 80MA will act as a support because of the small space between the level and the MA. then, of course, the price will be outside of Oversold zone which start show great signs of a revers. and Correction in progress.
But the case is litter bit different with Google because the next challenge after "having a big amount of volume next week" is to break the resistance level at ($1165.92) which gonna make the price have enough power to break 20MA and then we can see sign of a revers and NOT correction, because with Google the Correction won't happen before the price break 80MA.
* also we shouldn't forget the new phone of Google "Pixle 3" which going to effect nigative on the stock price because of the bad news.
alright so, this month there's a lot of Drama happened but yeah, Nothing random I mean every move was for a reason. this is "my thought" about Amazon & Google for the Next week, To the Next Sunday, have fun.
First I want to talk about those two stock in one post together for a reason, because I saw that those two stocks moving side by side 70% of the time last week also they are now about to face the same problem or "challenge" in another word.
alright so let's start with Amazon, we can see the candlestick in Daily timeframe at 11 Oct "18 ended as a Doji and in the same Date the same Candle in Google was ended up as a Doji, But the main difference Is that Google candle ended up as a "Bullish" candle but with Amazon the Doji was Red "Bearish".
And we all know that when Doji made after a gap down happened that's mean we could see signs of a revers. of course this is not a 100% sign of a revers that's why we need more information and other values to confirm if revers going to happen or not.
Amazon and Google in Daily timeframe they're both in Oversold area if we check on the Stochastic, So this gives us a better idea where the next move going to be, So now the price is Oversold and we have a Doji (Morning Star) But, we still not have a great sign of a revers, and the reason for that is:
Amazon is far away about 4% from the 80MA and 5% from the first resistance level ($1878.57)
&
Google is far away about 7% from the 80MA and 4% from the first resistance level ($1165.92)
And my 'personal perspective' I wouldn't see my confirmation sign if the price still moving oversold, NOTE: when the price come down to oversold zone it's important to know it may stay moving in the same area for a long time without showing any sign of revers, like Facebook for example.
and for me, No confirmation, No position, it's easy.
So, what's the next move could be:
I said that Amazon and Google moving side by said last week but of course the next week the results will be different because every stock have a different kind of challenges,
Depending on the current situation, the first thing Amazon & Google need to have next week is big amounts of liquidity, and I guess this going to happen because the market now represents a good opportunity for buyers what's gonna move the market up.
Amazon to win in the first challenge when it came to volume but for Google, we need to wait and see how the traders "bullish specifically" will respond.
After breaking the 80MA it will be easy for Amazon to break the Resistance level of($1878.57) when the 80MA will act as a support because of the small space between the level and the MA. then, of course, the price will be outside of Oversold zone which start show great signs of a revers. and Correction in progress.
But the case is litter bit different with Google because the next challenge after "having a big amount of volume next week" is to break the resistance level at ($1165.92) which gonna make the price have enough power to break 20MA and then we can see sign of a revers and NOT correction, because with Google the Correction won't happen before the price break 80MA.
* also we shouldn't forget the new phone of Google "Pixle 3" which going to effect nigative on the stock price because of the bad news.
alright so, this month there's a lot of Drama happened but yeah, Nothing random I mean every move was for a reason. this is "my thought" about Amazon & Google for the Next week, To the Next Sunday, have fun.