AMZN bullish divergence with RSI confirmation
AMZN on 4H formed a clear bullish divergence with lower lows being formed in price action and higher highs in the MACD. This can also be considered a double bottom. (possible reversal)
I was late to jump but entered at 2182.70 and holding especially as RSI crosses the 50 mark and suggests a bullish trend.
AMZN has been bearish and for awhile, so will be careful to look out for weakening of this small trend.
Planning to hold till either MACD crosses over and/or RSI becomes overbought.
I was late to jump but entered at 2182.70 and holding especially as RSI crosses the 50 mark and suggests a bullish trend.
AMZN has been bearish and for awhile, so will be careful to look out for weakening of this small trend.
Planning to hold till either MACD crosses over and/or RSI becomes overbought.
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.