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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