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Advanced TA SearchArchive
- 6/7/2024 -
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Amazon.com (AMZN) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the Amazon.com (AMZN). During the week, the AMZN gained 7.86 points, or 4.45%, and closed at 184.30 on Friday, June 7, 2024. It was the best weekly gain since February 2, 2024. Weekly volume was -39% below average.
AMZN is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 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 191.70 on May 9, 2024. AMZN gained -110.27 points, or -135.42%, in 69 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (183.93). 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 Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with 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 link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since May 24, 2024. The distance between MACD and the signal line is low, but getting bigger. 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 May 31, 2024 at 173.87 and reached 186.29 on June 7, 2024. AMZN gained -12.42 points, or -7.14%, in 7 days. The price is now at the 16.02% retracement level.
 Daily Technical Indicators: [See AMZN daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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