AMZN is ready for a major drop. Friday it formed a bearish reversal candle shooting star. The last two trading day was on a lower volume than 20 days average volume which is bearish.
RSI has huge negative bearish divergences and is pointing to a drop.
MACD also formed bearish divergences.
Everything is pointing there is no more energy for the continuation of the move.
Drop is likely towards the area of support where is a horizontal supports level, 50 and 200 days MA which will definitely act as support.
RSI has huge negative bearish divergences and is pointing to a drop.
MACD also formed bearish divergences.
Everything is pointing there is no more energy for the continuation of the move.
Drop is likely towards the area of support where is a horizontal supports level, 50 and 200 days MA which will definitely act as support.
Consistency is the key of success....