Amazon.comShort
Bleak prospects for Amazon shareholders
Amazon's strong quarterly figures were convincing, and the stock consequently shot up.
But will the rise be sustainable?
A look at one of the most important technical indicators gives little hope:
The strong inverse bearish divergence in the CumulativeDelta suggests that Amazon stock will soon correct significantly.
I am not giving a price target here, as the divergence is still building.
However, it can be said that the short side is clearly to be preferred in Amazon as soon as a corresponding reversal formation appears.
But will the rise be sustainable?
A look at one of the most important technical indicators gives little hope:
The strong inverse bearish divergence in the CumulativeDelta suggests that Amazon stock will soon correct significantly.
I am not giving a price target here, as the divergence is still building.
However, it can be said that the short side is clearly to be preferred in Amazon as soon as a corresponding reversal formation appears.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.