AMZN is still in a bearish trend with the longer day MA higher than the shorter MA seen here using Tradingview's default MA Exp Ribbon template. Using a pitchfork for the downtrend here is holding true and the retracement levels from Dec 18 (low) to Jul 19 (high) is showing confluence with historical support levels. I would like to see Amazon sell off to 1600 or lower.
Latest Earnings was a miss due to increase opex for one-day prime shipping; guidance was also hinting at this opex increase for Q4. Also just lost a the JEDI US government contract to MSFT.
Latest Earnings was a miss due to increase opex for one-day prime shipping; guidance was also hinting at this opex increase for Q4. Also just lost a the JEDI US government contract to MSFT.
Trade closed: stop reached:
above the pitchfork helped out with beta movement from overall market surge breaking to all time highs.