Technical outlook: AMZN bearish scenario:We have technical figure Triangle in US company Amazon.com, Inc. (AMZN) at daily chart. Amazon is an American multinational technology company based in Seattle, Washington, which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. It is considered one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Microsoft, and Facebook. The Triangle has broken through the support line at 31/10/2020, if the price holds below this level we can have possible bearish price movement with forecast for the next 53 days towards 2 339.19 USD. Our stop loss order should be placed at 3 495.00 USD if we decide to enter this position.
Fundamentals:
- Amazon is withdrawing advertising for pre-Black Friday discounts in France, after the government said the campaign was unfair to small shops at time when a coronavirus lockdown has forced them to close.
