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.
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