AMZN
Hey everyone .
So in short term timeframes (1H , 4H) AMZN is moving in a descending channel which is leading price to two strong support levels :
3175.00 and the second support level which is 2900.00
well of course for investors the price 2900.00 is very nice to enter
But for traders 3175 can be very nice after bullish confirmations (candles , divergences ect ..) at this price
this is just technical analysis and we must see what's gonna happen to #DXY and U.S economy and also the company earnings report in further weeks , so also don't forget about fundamental analysis .
Anyway it's better to watch #AMZN for this week and next week .
what's your idea about this stock guys ?
Comment:
Also there is a head and shoulders pattern which can lead the price to 2900