PhilippeDelpCFA

On 1 month chart Amazon shows clear bearishness

NASDAQ:AMZN   AMAZON COM INC
The fast line goes much lower than the slow line and the price broke clearly the cloud downward with each candle red closing lower

The lagging line is not too bearish though

Not a good sign I will wait before buying a new position
Comment: huh sorry the lagging is also bearish so my bad it clearly is below the cloud

Comments

It's a 30 min chart, not one month
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any idea if the stock is going up after releasing the earnings reports on April 30th?
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@rteran000, very difficult to reply this base on technicals alone but as far as I can see not many are rushing to buy it prior earnings which shows that all good news priced in already and to be fair it is indeed so for the price to sustainably break the cloud it really need much more volume on the uptrend

if you wan to follow the strict rules of ichimo clear buy signal is around 2400 ABOVE THE CLOUD

I did check with basic MA and on the one month it clearly broke the 50 and reaching the 200 so not bullish I am afraid

a CLEAR surprise can obviously lift the price but it needs to be sustainable but this is pure gaming not trading based on signals
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