years on the market

Amazon Stock Analysis 18.10.2019

Amazon's stock is moving within a downtrend after it emerged from the ascending channel in which it was moving and started to move

The descending within the channel, which is cleared in red.

The price is currently moving below the 7-20-50 moving averages in a bullish correction. Which form resistance levels and pressure him to fall further.

Stochastic has entered the overbought area and therefore we are likely to see further upside to 1816.20 resistance.

Expected trend: Bullish intraday. A long-term bearish.

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