AMZN triple top or just a fresh upwards push?
Right now on the daily chart for AMZN we are looking at a triple top (if we hit the higher green line) or just a lot of trending to the upside at the moment.
It will be very hard to value AMZN any higher right now based on the technical. As the US economy continues to open up more people will be out shopping (bad for amzn) shopping local to support local business (bad for amzn) and have more cash to spend (neutral for amzn).
The real issue will be the clean up of the amazon marketplace right now it is littered (literally) with foreign mfg goods with suppliers not in the US and sending packages to the US seems to be a current challenge. Anymore upside will have to challenge the 3547 high set in place.
It will be very hard to value AMZN any higher right now based on the technical. As the US economy continues to open up more people will be out shopping (bad for amzn) shopping local to support local business (bad for amzn) and have more cash to spend (neutral for amzn).
The real issue will be the clean up of the amazon marketplace right now it is littered (literally) with foreign mfg goods with suppliers not in the US and sending packages to the US seems to be a current challenge. Anymore upside will have to challenge the 3547 high set in place.
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