Markets – Macro – Technicals

AMZN

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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All content is provided as information only and should not be taken as investment or trading advice. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise. For further details please refer to the disclaimer.


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:

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