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Weekly W%R Divergence:Bearish
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 3/15/2024 -
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Amazon.com (AMZN) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtTrend resistance at 171.93
Daily :Broken trend support lineThe price has fallen below the Parabolic SAR
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It was the negative week for the Amazon.com (AMZN). During the week, the AMZN gave back -0.93 points, or -0.53%, and closed at 174.42 on Friday, March 15, 2024. Weekly volume was -22% below average.

Long-term trend: [See AMZN long-term trend chart]
A long-term downtrend had started on July 13, 2021 at 3773.08 and reached 81.43 on January 6, 2023. AMZN lost 3691.65 points, or 97.84%, in 77 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.

Medium-term trend: [See AMZN medium-term trend chart]
A medium-term uptrend had started on January 6, 2023 at 81.43 and reached 180.14 on March 4, 2024. AMZN gained -98.71 points, or -121.22%, in 60 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (171.93). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See AMZN weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since September 2, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See AMZN short-term trend chart]
A short-term uptrend had started on January 4, 2024 at 144.05 and reached 180.14 on March 4, 2024. AMZN gained -36.09 points, or -25.05%, in 60 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (178.33) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.

Daily Technical Indicators: [See AMZN daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since March 4, 2024. The distance between MACD and the signal line is low, but getting bigger.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.49
Williams' Percentage Range (W%R) 24.30
Lane's Stochastic (%D-Slow) 46.03
Greed/Fear Indicator (GFI) 57.07
Moving Average Converg./Diverg. (MACD) 3.25
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.19
Williams' Percentage Range (W%R) 5.70
Strong Overbought
Lane's Stochastic (%D-Slow) 88.03
Overbought
Greed/Fear Indicator (GFI) 80.27
Overbought
Moving Average Converg./Diverg. (MACD) 5.46
Trading Signals
Description Value Chart
Monthly Trendline Resistance 186.28
Weekly Trendline Resistance 183.19
Parabolic System 179.63
Upper Bollinger Band 179.57
Weekly Trendline Support 178.33
Weekly Stochastic Crossing 176.92
Daily Stochastic Crossing 175.99
Price 174.42
20 Day Moving Average 174.28
Quarterly Trendline Resistance 171.93
Monthly Trendline Support 170.95
Lower Bollinger Band 167.49
50 Day Moving Average 165.61
Quarterly Trendline Support 140.65
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Internet & Direct Marketing Retail 63
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 180.14
High Date 03/04/2024
Low 171.47
Low Date 03/11/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 183.19
Support 178.33
Low 144.05
Low Date 01/04/2024
High 180.14
High Date 03/04/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 186.28
Support 170.95
Low 118.35
Low Date 10/26/2023
High 180.14
High Date 03/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 171.93
Support 140.65
Low 81.43
Low Date 01/06/2023
High 180.14
High Date 03/04/2024
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status
Resistance
Support
High 3773.08
High Date 07/13/2021
Low 81.43
Low Date 01/06/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.