As Amazon is closing its doors to the Chinese marketplace, we do expect a smaller pullback to the bearish direction shortly. However, we do not expect this pullback to be a big one, as the Chinese market is not a large one for Amazon due to its competition like Alibaba. We do believe that Amazon is fundamentally a strong company, and its revenue keeps growing. That is the reason we believe, that another bullish move is probbably going to happen. We think that the maximum that the price can reach is about 2.000$ as this level represents a strong resistance zone.
Feel free to grab a copy of our Free Weekly Market Outlook here:
https://mailchi.mp/bc78576d6f40/freeweeklymarketoutlook
We wish you good luck with your trading!
Feel free to grab a copy of our Free Weekly Market Outlook here:
https://mailchi.mp/bc78576d6f40/freeweeklymarketoutlook
We wish you good luck with your trading!