Amazon has potential to break above 2000 in relative short time

There is a conjunction of indicators that tends to show that AMAZON is about to see a short term value increase.

TECHNICAL ANALYSIS

1) The recent late movement tend to show that the stock is trading in an upward corridors and is for the moment at the bottom of it, showing clear opportunity for upward movement.

2) The stock has also recently hit the lower Bollinger bands which is also a good buying signal

2') The stock is finding support on its 200 days MA average as it has mostly always done ( except recently )

3) The RVI indicator is showing an increase in 50+ which is usually considered as a good trend upward trend indicator.

4) The MACD trend lines are about to close providing another bullish signal for the stock.

OTHER ELEMENTS

The most stock has been beaten down recently providing a nice discount on some excellent stock such as AMAZON. The company is still growing nicely and is offcourse an amazing business to invest in ...


MY ESTIMATES


* Going long on AMAZON with a first price target of 2.000 and a second at 2.200
* Stop loss at 1700