AMZN: GONNA TAKE TIME

Hey everyone hope y'all had a great weekend, alright so today I wanna talk about Amazon and what happened last week.

first, don't wait for the price to make a higher high and break the $2050 level's because it's GONNA TAKE TIME.

the idea here if you take a look at the Upper-line of the Bollinger band you can see that it's moving side by side with the resistance level of $2050 levels, and we know that the general space that the price can move between is the Upper and the Lower bands of the Bollinger. So when the Upper line for two months can't go upside the resistance line of the $2050 levels this is mean that the price facing difficulty to go upward.

In contrast, what happened with the lower-band of the Bollinger, we can see it's making higher high and moving smoothly upward.

So we understand from this that the price generally is in an uptrend but facing difficult levels like $2050 that gonna make the price move in a flat way (sideways) for couple weeks (may we close this month as a flat) before it can break the resistance level.

In the stochastic shows price fall from the Overbought zone and this is good because this is mean 2 things, that the $1878.57 levels are gonna be the end of the down move.

you can see how the price get rejected with the same why of the previous candle in the chart. [Look to the shadow of the candles].

What's The next movement could be?:

I expect the price will do as same the last week?
I don't think bears can keep pushing the price more but I guess we going to see bulls movement next week (tomorrow) for multi-reasons:

1) price already Oversold
2) The price hit the 80MA (what's give buy opportunities)
3) the last candle can't break $1878.57 levels.,


So yeah, this is "my thought" about Amazon for the Next week, To the Next Sunday, have fun.