AMZN: FALL BUT STABLE
Hi Guys, hope y'all doing good. Today I would talk about Amazon so let's move on.
Most traders do not doubt that Amazon suffered in the previous period and the current period of severe weakness and inability to take off the red dress and get out of the fall and wear the green dress again, but how to Amazon to suffer from the decline and be stable at the same time.
Now, many of the traders at the moment and I am one of them aware that daily trading is the perfect choice not only for Amazon but also for other companies like Microsoft and Google.
This is because traders manage day-to-day and non-long-term deals because many fear that the bleeding will continue for a longer period, which may be a real concern for investors.
This, of course, can affect any stock whatever its value. But what I mean by saying that Amazon despite the fall but still stable? is by looking to the stock currently at its condition in the weekly chart you will find that the price tried to cross the bottom line of the Bollinger Bands, but was rejected this break, indicating that the bears can not move only within the average-space, This may cause bulls to pump more liquidity to push the stock up towards the correction especially as it is now in oversold territory and is a good timing for a positive move.
Going into "Oversold" does not mean that it will rise quickly as the price can stay in the same area for very long periods without any positive movement and this is of course what bulls should not allow in the future.
Future expectations:-
My (personal expectations), I think that bull pressure on the stock to remain within the Bollinger Bands is positive and suggests to traders that the bulls are ready at any moment to correct as I mentioned earlier, especially as the price fluctuates in the 'oversold' area. I think next week we need a push to break the $1761 level in a step that could return the positive move to the stock in the future.
So yeah, this is "my thought" about Amazon for the Next week, To the Next Sunday, have fun.
Most traders do not doubt that Amazon suffered in the previous period and the current period of severe weakness and inability to take off the red dress and get out of the fall and wear the green dress again, but how to Amazon to suffer from the decline and be stable at the same time.
Now, many of the traders at the moment and I am one of them aware that daily trading is the perfect choice not only for Amazon but also for other companies like Microsoft and Google.
This is because traders manage day-to-day and non-long-term deals because many fear that the bleeding will continue for a longer period, which may be a real concern for investors.
This, of course, can affect any stock whatever its value. But what I mean by saying that Amazon despite the fall but still stable? is by looking to the stock currently at its condition in the weekly chart you will find that the price tried to cross the bottom line of the Bollinger Bands, but was rejected this break, indicating that the bears can not move only within the average-space, This may cause bulls to pump more liquidity to push the stock up towards the correction especially as it is now in oversold territory and is a good timing for a positive move.
Going into "Oversold" does not mean that it will rise quickly as the price can stay in the same area for very long periods without any positive movement and this is of course what bulls should not allow in the future.
Future expectations:-
My (personal expectations), I think that bull pressure on the stock to remain within the Bollinger Bands is positive and suggests to traders that the bulls are ready at any moment to correct as I mentioned earlier, especially as the price fluctuates in the 'oversold' area. I think next week we need a push to break the $1761 level in a step that could return the positive move to the stock in the future.
So yeah, this is "my thought" about Amazon for the Next week, To the Next Sunday, have fun.
Disclaimer
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.