So I did a technical analysis on
AMZN
and here is my idea/point:
Bearish:
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Bearish:
- (not perfect) hammer candle followed by a bearish confirmation
- Stock in a clear downtrend
- Ema not showing any trend reversal sign or upwards correction ( no crossing movement)
- AMZN broke a strong support level
Bullish:
- RSI showing a very Strong Support, so Price may bounce off ( MAY ), we need confirmation in the following Week/Days, I'll update the idea
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Stay updated for more content
Have a nice Day : ) Bye!
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Comment:
AMZN Broke the lower support, how far will it go, till its reversal ?
Comment:
Next decent support is at 1.6k
Comment:
bounced back at 2.7 k, my short take profit was at 2.75, good trade
I wanted to say that the market "is therefore BEARISH"
( thanks @jbielski)