Potential Downside for $AMZN
As the market continues it's "risk-off" sentiment with uncertainty fears from the war in eastern Europe we are seeing less demand for tech stocks.
I do believe that later in the year there will be a lot of cost savings and potentially another stream of revenue from the logistics business
AMZN are building but for now on a technical basis the previous support zone is now a resistance zone meaning a push down to previous supports is likely.
Unless we have a major change in the fundamentals of market sentiment, I don't see AMZN being a good short term bet.
I do believe that later in the year there will be a lot of cost savings and potentially another stream of revenue from the logistics business
AMZN are building but for now on a technical basis the previous support zone is now a resistance zone meaning a push down to previous supports is likely.Unless we have a major change in the fundamentals of market sentiment, I don't see AMZN being a good short term bet.
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