Amazon Stock Analysis 11.10.2019

Amazon continues to move below the resistance level of 1750.67 after it was able to breach it during the last week, thus confirming the downside path after the stability of trading below the mentioned level. The price approached the next support level of 1665.45

The price is currently moving below the 7-20-50 moving averages which form resistance levels and press it to fall further.

Stochastic is in a bearish path where it formed bearish crosses between its two lines after it was in an uptrend thus it will press the price down and test the support 1665.45.

Expected trend: Bearish.