Amazon.com: New Low Above Old High?

11월 26일

Amazon.com jumped to a new record high two weeks ago. Now some traders may see an opportunity in its latest pullback.

The first pattern on today’s chart is the September high of $195.37. AMZN jumped above that level on November 1 after earnings and revenue beat estimates. It was tested the following Monday before prices rallied to new highs. The stock pulled back and held above the level again last week. Has new support been established above old resistance?

Next, stochastics have dipped to an oversold condition.

Third, the 8-day exponential moving average (EMA) has remained above the 21-day EMA. That may suggest the short-term trend is still pointing higher.

Finally, some traders may look for the November 15 price gap to be filled.

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