Amazon shares (NASDAQ:AMZN)
are in a bullish mode. Price began a northwards movement – which has held out
till now. The market is supposed to continue going north till the end of this
year.
4 EMAs are used for the
analysis, and they are EMAs 10, 20, 50 and 200. The color that stands for each
EMA is shown at the top left part of the chart. All the EMAs are sloping
upwards, signifying a bullish movement.
Amazon price is
particularly strong at the present; being above the EMA 10. There may be
pullbacks into the EMA 10, 20, and even 50, which may signal a wonder
opportunity to buy again. The outlook on the market is bullish for 2017.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Traders’ Mindset: Traders' Mindset
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