American Stocks Analysis

Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.

Amazon surrounded with positive signals - Analysis - 15-08-2018

Economies.com
2018-08-15 15:30PM UTC

Amazon's stock gained ground in the last session amid the complete dominance of the main upward trend in the medium and short terms, with positive support from the 50-day SMA, coupled with positive signals from the Relative Strength Index, while the stock attempts to form a harmonic pattern in the medium term, the Lightning Bolt pattern as shown in the attached chart. 

 

Therefore we expect more gains for the stock, as long as the support of 1858.88 holds on, targeting the resistance of 2002.13. 

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