Markets – Macro – Technicals


This page tracks AMZN (AMAZON) over time and different time frames. Updates, including different time frames and additional technical subsets will be notified via Twitter and Facebook.

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August 20, 2017

$AMZN continues to struggle with its large quarterly rejection candle. RSIs and MACD are both pointing south and a break of June support would invite a move toward the .382 fib coinciding with 2016 highs and the weekly 50 MA. As with $FB and $AAPL these are strong support zones.

August 10, 2017

Quite the historic rejection candle on $AMZN quarterly especially given the negative divergence. The good news for longs: The quarter is not over yet, BUT, should this serve as a confirmed top for the stock it’s a long way down to 5 EMA or fib support.

July 28, 2017

Yesterday’s new highs on $AMZN came on headlines with Jeff Bezos celebrated as the richest man on the planet. These highs also came with a strong negative divergence and a rejection candle for the books. That’s a big open gap buyers want to aim to fill. A negative MACD cross-over is looming and the relentless run up in the stock since February 2016 leaves it open to a larger fib retrace:

July 8, 2017

$AMZN nearly broke its February 2016 trend line this week, but the breakdown was saved into the weekend close validating the trend line as support once again.

The RSI suggests that any potential new highs would come again on a negative divergence.

However a definitive break of the trend line would target the weekly 21 MA and 2015 trend line around $920-925 support a likely bounce zone. On a break lower the annual 5EMA and the weekly 50MA would offer support near $830-$850. Such a price test would threaten the overall bullish trend of $AMZN.

For further charts please click the image below:

July 2, 2017

The darling of tech and the horror of everything retail $AMZN has been one of the strongest stocks in market history. Indeed it seems unstoppable as even the recent acquisition of Whole Foods was immediately rewarded with a higher stock price.

I’m posting a linear chart here as opposed to a log chart as it highlights a couple of key points: The vast technical disconnect from a key moving average, the asymptotic nature of the historic price development and the size of the technical corrective potential should the stock gods ever turn on $AMZN.

Also note, that all recent highs on $AMZN have come on a very pronounced negative divergence and the recent quarterly close shows a potential rejection candle.

Immediate risk is a reconnect with the quarterly 5 EMA. A break below would invite the .382 fib as a potential price magnet.

For further charts please click the image below:

The material on this website is provided for informational purposes only, as of the date hereof, and is subject to change without notice and does not constitute investment advice.
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