AMAZON (AMZN) TA SCENARIO IDEA

So I did a technical analysis on AMZN and here is my idea/point:

Bearish:

• (not perfect) hammer candle followed by a bearish confirmation
  
• Stock in a clear downtrend
  
• Ema not showing any trend reversal sign or upwards correction ( no crossing movement)
  
• AMZN broke a strong support level
  
  Bullish:
  
  
• RSI showing a very Strong Support, so Price may bounce off ( MAY ), we need confirmation in the following Week/Days, I'll update the idea
  
  

For me, the stock is showing a lack of bullish signs and is therefore bullish, BUT wee still need confirmation on the RSI support Bounce-off/breaktrough.

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Bình luận:

I did a fault at: "a lack of bullish signs and is therefore bullish"
I wanted to say that the market "is therefore BEARISH"
( thanks @jbielski)

Bình luận:

AMZN Broke the lower support, how far will it go, till its reversal ?

Bình luận:

Next decent support is at 1.6k

Bình luận:

bounced back at 2.7 k, my short take profit was at 2.75, good trade