Likely Short/Medium Term Rebound

AMZN has had a fantastic rally the last few days; however, this raises the question: Will it last? Assuming we get above average volume tomorrow I believe it will. When looks at the DMI cross overs for the last 9 months one can see that 7/8 times they have properly signaled the trend, and given that we had a crossover yesterday I think the upswing should last at least a few more days. Furthermore the EMA smoothed ROC has also had great success over the last 9 months, with the exception of the recent consolidation, and appears that it will crossover tomorrow. The only issue I have with AMZN's current move is its terrible lack of volume , and for this to continue this must improve; hopefully the shortened trading week, and the end of month will spur traders in to big name holdings. As long as we get proper volume tomorrow, I'm very bullish on amazons short/medium term growth; as my earlier analysis indicates we are not due for a major correction .


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.