AMZN confirmed the double bottom. A relief rally followed as price broke resistance @ 2200.
Yesterday price has confirmed the (probably short term) trend reversal as it went through resistance @ 2316.
Price might hit next resistance probably @ 2475.
In the daily chart we see already 4 bullish green candles in a row. If we compare this with the similar pattern of March 15th, we might expect some weakness soon, should price form today the 5th green candle. There might even be a pullback.
However, if price goes through 2475 then it might fill the gap up to 2761 before it might crash again all the way down to 1500.
I’m long in AMZN and I’m a newbie, just guess work. Maybe I‘m wrong. The market has the last word.
No financial advice!
Yesterday price has confirmed the (probably short term) trend reversal as it went through resistance @ 2316.
Price might hit next resistance probably @ 2475.
In the daily chart we see already 4 bullish green candles in a row. If we compare this with the similar pattern of March 15th, we might expect some weakness soon, should price form today the 5th green candle. There might even be a pullback.
However, if price goes through 2475 then it might fill the gap up to 2761 before it might crash again all the way down to 1500.
I’m long in AMZN and I’m a newbie, just guess work. Maybe I‘m wrong. The market has the last word.
No financial advice!
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