AMZN How to trade when the market is overbought

2020년 8월 20일

On this chart, you can see a slight contraction of the price to the resistance level of $ 3343 (4 hours time frame), but on the daily time frame, you can see that the asset is heavily overloaded (maximum in the overbought zone). Therefore, for good growth, we need a correction in the role of a rollback to $ 2920, when the support trend lines are broken.

If buyers fix the price above $ 3343, then the asset will go higher to make a new high.