AMZN: Multi Time Frame Analysis (H,D and W).

2020年9月14日

Hello traders and investors! Let’s see how Amazon is behaving today! The situation is quite bearish, and these are the most important points to keep in mind.

First, Amazon is close to a support zone, which is the black line. The bull trend lost its strength after the Breakaway Gap triggered a downward movement that made AMZN lose its purple trendline. The bull trend got weaker, but this is not a reversal sign yet.

In the short-term, the trend is quite bearish, and AMZN is trading under the 21 ema, which is pointing downwards, and only if AMZN loses its support at the black line we will see a sharper pullback.

Now, only the daily chart can offer us more clues:



It seems AMZN can’t sustain a bullish movement anymore, and from here we can see that if it loses its black line, it will trigger a pivot point, and the next target for it would be the red line around $ 2,887.

As long AMZN stays in the Trap Zone between the 21 ema and the black line, there’s nothing interesting to do, and it could go anywhere from here.

We can expect some sideways movement from now on, because the bull trend got weaker, but AMZN still has some supports to keep the trend bullish in the mid-long term.

Let’s see the weekly chart:



The weekly chart suggests a top formation, but since it is a bull trend, any pullback is just an opportunity to buy. The target we set on the daily chart, at the red line, is just the same point that the 21 ema is the weekly chart.

Any pullback to these levels wouldn’t spoil the bull trend, and this would be perfectly expected.

Let’s keep our eyes on the AMZN’s support! Speaking of support, please, support this idea if you’ve made this far! I write analyses every day here, and you are invited to follow me to keep in touch with my studies. I’m sure you’ll find something helpful around here.

Stay safe.