With AMZN printing a yellow histogram on the squeeze we are starting to see signs of exhaustion and possibly a base level from which AMZN can rise. I am not keen to be bullish until at least 2 closes above the 34 EMA and we see momentum shift. Keep your eyes here for a possible recovery trade. Signs to look for:
1) more green dots on the multi time MA indicator showing a more momentum support
2) smaller yellow histograms on the squeeze indicator
3) a series of higher highs and higher lows
Its not more complicated than that. While AMZN is trading below the 34 EMA the path of least resistance, for now, is to the downside.
1) more green dots on the multi time MA indicator showing a more momentum support
2) smaller yellow histograms on the squeeze indicator
3) a series of higher highs and higher lows
Its not more complicated than that. While AMZN is trading below the 34 EMA the path of least resistance, for now, is to the downside.
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