Amazon Stock Analysis: The Rise and Rise of the E-commerce Giant

Conclusion for today's Amazon Stock Analysis: Price could potentially fall to the low $1,000's on a close below $1309.59.

Amazon stock analysis for today is carried out using a 6 hour timeframe (log scale). The long term trendline shown in green helps to track bullish market action in Amazon from February 08, 2016. Trendline drawn in blue also helps to put price action into perspective from October 24, 2017.

October 2, 2018 saw the price of Amazon close below its 15 months old trendline , and then a close below its longer term trendline of over 33 months for the first time on November 20, 2018.

The implication of price action closing below both bullish trend lines is bearish . Price action currently has recovered over the bullish trendline since 2016 and needs to overcome immediate resistance or overhead supply between $1783.79 and $1845.40 in order to safely consider entry into a long (buy) position.

Most conservative entry into a long position involves buying on a breakout above the $2014.04 on August 31, 2018.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out