Amazon AMZN Analysis June 17, 2022

We are Bearish on Amazon, AMZN, with the three SELL signals fired in January, 2022. The Monthly Uptrend Line on the Weekly Chart was broken for the first time since 2014. AMZN has gone down further getting closer to the ($95.00) Support Area. Amazon is down over 26% since the indicators in January and 40% since the All Time High in November 2021. The most recent (20 for 1) stock split makes the price more attractive to investors but we are down over the 35%, the benchmark decline to indicate a Bear Market during a Recession. We are under the 200-Day Moving Average and hovering above that ($95.00) Support Area. Under these economic conditions, we will wait for some Buy signals and/or the Support Lines where the Daily Downtrend Line intersects before investing in Amazon. The stock was up over 12,000% since the beginning of 2013! Not Financial Advice...Trade with Confidence and Control.