Amazon's Uptrend Broken
The AMZN stock started the week green, looking pretty good, but it is set to close on a very strong bearish note...
Good Friday my dear friends, it seems the start of the bear-market is here for stocks.
➖ This week marks the fourth week where AMZN closes red. And interestingly enough, the past month of bearish action produced the strongest red candles since mid-2022.
Let's keep this one simple:
👉 Amazon is set to move much lower, hitting maybe 130 in a matter of weeks and reaching as low as ~100 in several months.
The entire market is intricately connected; what one does, the rest tends to follow.
This is a true statement and can be confirmed by looking at other stocks.
TSLA, NVDA, GOOG and the rest, are also set to crash.
A 20% drop within 4 weeks is already pretty strong, but you can be sure that this is only the beginning... Amazon is set to continue dropping more and more and more.
Namaste.
Good Friday my dear friends, it seems the start of the bear-market is here for stocks.
➖ This week marks the fourth week where AMZN closes red. And interestingly enough, the past month of bearish action produced the strongest red candles since mid-2022.
Let's keep this one simple:
👉 Amazon is set to move much lower, hitting maybe 130 in a matter of weeks and reaching as low as ~100 in several months.
The entire market is intricately connected; what one does, the rest tends to follow.
This is a true statement and can be confirmed by looking at other stocks.
TSLA, NVDA, GOOG and the rest, are also set to crash.
A 20% drop within 4 weeks is already pretty strong, but you can be sure that this is only the beginning... Amazon is set to continue dropping more and more and more.
Namaste.
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followalan.com
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lamatrades.com (Since 2017)
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