Above you will see a pretty quick analysis of
AMZN
. All the indicators that I follow point towards a bearish movement here. I also believe that it will continue bearish until it hits the support that I have in purple.
As I always say, plan for both scenarios. In this case, a bullish scenario is unlikely and if it does happen, it will probably get knocked down by the resistance. The probability of the bearish scenario, on the other hand, is high. The support is far enough away causing investors to fear the potential drop. It is also a volatile time for the overall US market causing bearish moves like this to happen more often.
AMZN
. All the indicators that I follow point towards a bearish movement here. I also believe that it will continue bearish until it hits the support that I have in purple. As I always say, plan for both scenarios. In this case, a bullish scenario is unlikely and if it does happen, it will probably get knocked down by the resistance. The probability of the bearish scenario, on the other hand, is high. The support is far enough away causing investors to fear the potential drop. It is also a volatile time for the overall US market causing bearish moves like this to happen more often.
