Amazon Stock price Forecast: Weekly Range Analysis, RSI Divergence trade
- Summary
- Amazon stock Price fell from 235 with momentum
- Currently in range between support and resistance
- Weekly support is key for breakout
- Traders: Swing trade inside the range
- Investors: Hold until support breaks
- RSI divergence spotted
Hello traders and investors, today we will forecast Amazon stocks.
We have a weekly timeframe. If you are an up-and-coming investor and you have bought shares of Amazon stock, then I suggest you first to hold or sell out.
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| Weekly TF |
🕐 Amazon stock Weekly Timeframe Analysis
In the weekly timeframe, the market has fallen from 235 with good momentum. There is a support zone below the weekly timeframe, which you can see on the chart. A resistance zone has also been formed above.
According to the weekly timeframe, Amazon stock has now entered a range. amzn stock can remain in this range next week as well.
🔻 Investor Advice
The lower support zone — if the weekly candlestick breaks out below it, then you can sell your stock.
These were my two advices for investors.
🔄 For Traders: Swing Opportunities Within the Range
Now I will talk about trading. Those who will do online trading can do swing trading in Amazon stocks, which is within their support and resistance zones.
You may have seen it in the chart, but my advice is that until the weekly timeframe support is broken, you should hold your shares and trade within this zone.