Hi guy & gals,
This is my technical analysis of the price of AMZN.
In my charting I do a top down analysis from the 12 month chart to what you see here now giving me my key levels most people don't have.
I use the trend based fib extension, fib retracement and smoothed moving averages in my chart with rectangle coloured zones. I now also use faces in my analysis to show what I think is the fear (sad face) hold (plan face) & greed (happy face) scenarios, I also include question marks and exclamation marks and may also use other symbols in the future.
What I see playing out is the stimulus that got handed out in the USA is now being drained from the markets and into the smart moneys bank accounts.
What I mean is at the end of '2019 we had the c-19 pandemic and the markets got flooded with excess capital which artificially pumped the markets, what we are seeing now is the extraction of capital and probably a big short moment on the horizon.
Using the 3 day chart we can see price took off around March '2020 with no significant pull back taking place, now that the 200 ssma has been broken I see the price falling below the red zone and to the $60 - $50 dollar area with a possible bounce to then continue falling to the orange zone or even the green zone prime buying levels in my personal opinion. The key here is we need to see the happy face holders from before '2020 to start selling their long term bags this would indicate to me that the bottom would be in for this to play out I would imagine it will take some time.
We would then be looking for a flattening in price indicating to me that the lows may have come in. I would then start to look for price to re-claim the 200 ssma for a long term trend reversal.
This is just my personal outlook on the price of AMZN and should NOT be taken as finantual advice. DYOR.
Crypto Leonard.
This is my technical analysis of the price of AMZN.
In my charting I do a top down analysis from the 12 month chart to what you see here now giving me my key levels most people don't have.
I use the trend based fib extension, fib retracement and smoothed moving averages in my chart with rectangle coloured zones. I now also use faces in my analysis to show what I think is the fear (sad face) hold (plan face) & greed (happy face) scenarios, I also include question marks and exclamation marks and may also use other symbols in the future.
What I see playing out is the stimulus that got handed out in the USA is now being drained from the markets and into the smart moneys bank accounts.
What I mean is at the end of '2019 we had the c-19 pandemic and the markets got flooded with excess capital which artificially pumped the markets, what we are seeing now is the extraction of capital and probably a big short moment on the horizon.
Using the 3 day chart we can see price took off around March '2020 with no significant pull back taking place, now that the 200 ssma has been broken I see the price falling below the red zone and to the $60 - $50 dollar area with a possible bounce to then continue falling to the orange zone or even the green zone prime buying levels in my personal opinion. The key here is we need to see the happy face holders from before '2020 to start selling their long term bags this would indicate to me that the bottom would be in for this to play out I would imagine it will take some time.
We would then be looking for a flattening in price indicating to me that the lows may have come in. I would then start to look for price to re-claim the 200 ssma for a long term trend reversal.
This is just my personal outlook on the price of AMZN and should NOT be taken as finantual advice. DYOR.
Crypto Leonard.
