Amazon stock analysis

The Amazon stock closed lower below the support level 3260.00, continuing with the downward movement, as the price reached the next support level at the lower end of the ascending price channel within which the price is moving and is shown by the graph.

We note on the chart that the price is moving below the 20- 50 moving averages, so it is possible to see the continuation of the current bearish path

While the stochastic oscillator is moving in a sideways path within the oversold area after reaching it, it will therefore give a signal to continue the decline as long as the index moves within this area.

The general direction of the price movement: an upward path