Amazon is overbought on its 1D technical outlook (RSI = 75.693, MACD = 11.680, ADX = 49.996) following April's impressive rally but is facing a very strong long term Resistance, the HH trendline of August 31st 2020. The 1W RSI is already on a huge LH bearish divergence since early 2024, so that could be the end of the rally for Amazon. In 2022 it hit the 1W MA200 after a -33% drop and it is highly likely now to see the market seek demand there, on the HL trendline (TP = 183.00).
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Feragatname
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I trade Crypto, Forex, Indices & Commodities all from one account on PrimeXBT with TradingView charts
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.