AMZN RSI -40 = Beginning of Run Every Time

20 февр. 2021 г.

A quick review of every time in recent history where RSI has dipped below the -40 threshold clearly shows a strong AMZN reversal. Friday's 2.3% sell off pushed RSI down to this level once again. Sometimes it takes a few days to reverse and runs a week or so at the bottom, but in every case it surges back. Will this time be different? No real reason to think so. In fact, the difference between current price and consensus price targets is really stretched right now. See Barron's article from Tuesday or Fast Money segment on CNBC from yesterday. With Bezos news likely digested, and the biggest OPEX in history now behind us, this RSI dip is almost certainly coiling for a major spring north.