AMZN: Doing some good reversal patterns!
Hello traders and investors! Let’s see how AMZN is doing today!
Yes, AMZN triggered a bullish structure, as we expected in our last study, and now it is doing its best to reverse the trend. We are once again above the 21 ema, and we have higher highs/lows in the 1h chart, at least.
The volume is increasing nicely too, and pullbacks to the 21 ema area would be just opportunities to buy in the future.
In the 1h chart, the pivot point that started this reversal was the $ 3,260. Now we have a second pivot point, but this time on the daily chart, at $ 3,325. The 21 ema is quite close to this point, and it is another resistance that AMZN must defeat.
However, if AMZN actually defeats the 21 ema and triggers the pivot point in the daily chart, we’ll see a mid-term reversal pattern that could lead us to higher levels. This would turn AMZN bullish again.
Let’s follow it closely, and if you liked this analysis, remember to follow me to keep in touch with my daily updates!
Have a good day.
Yes, AMZN triggered a bullish structure, as we expected in our last study, and now it is doing its best to reverse the trend. We are once again above the 21 ema, and we have higher highs/lows in the 1h chart, at least.
The volume is increasing nicely too, and pullbacks to the 21 ema area would be just opportunities to buy in the future.
In the 1h chart, the pivot point that started this reversal was the $ 3,260. Now we have a second pivot point, but this time on the daily chart, at $ 3,325. The 21 ema is quite close to this point, and it is another resistance that AMZN must defeat.
However, if AMZN actually defeats the 21 ema and triggers the pivot point in the daily chart, we’ll see a mid-term reversal pattern that could lead us to higher levels. This would turn AMZN bullish again.
Let’s follow it closely, and if you liked this analysis, remember to follow me to keep in touch with my daily updates!
Have a good day.
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