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Uptrend Broken SupportArchive
- 5/10/2024 -
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Amazon.com (AMZN) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third consecutive positive week for the Amazon.com (AMZN). During the week, the AMZN climbed 1.27 points, or 0.68%, and closed at 187.48 on Friday, May 10, 2024. Weekly volume was -31% 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 uptrend resistance line (148.72) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See AMZN weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since September 2, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 April 25, 2024 at 166.32 and reached 191.70 on May 9, 2024. AMZN gained -25.38 points, or -15.26%, in 14 days. The price is now at the 16.63% retracement level.
 Daily Technical Indicators: [See AMZN daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic.
The daily MACD line is above its signal line since May 2, 2024. This is an indication that the short-term trend is up.
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