AMZN keeps consolidating for over a year now. Price tried to breakout in July to the upside and failed. I was a bit skeptical of that breakout in all of my previous AMZN TA analysis.
After deep pullback price recently re-tested $3555 area, and is pulling back again. I am still expecting price test of the bottom boundary of this consolidation zone ($2900), and eventually most likely even lower. There a lot of resistance/support zones on the way down so not sure if it will be slowly moving down, or straight drop.
It always possible that my opinion doesn’t materialize - if price closes above $3555 then I would reconsider my view, until then expecting lower lows.
After deep pullback price recently re-tested $3555 area, and is pulling back again. I am still expecting price test of the bottom boundary of this consolidation zone ($2900), and eventually most likely even lower. There a lot of resistance/support zones on the way down so not sure if it will be slowly moving down, or straight drop.
It always possible that my opinion doesn’t materialize - if price closes above $3555 then I would reconsider my view, until then expecting lower lows.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.