Amazon shares (NASDAQ:AMZN) have gapped up as a result on an ongoing
strong buying pressure in the market. This is a trend that is supposed to
continue for most of this year.
Price reached a significant low in December 2018, and then rose up, only
to trade sideways later. The sideways movement ended in March 2019 as price
assumed a new lease of bullish movement, which remains in place till now.
The market is currently above the EMA 21, and the Williams% Range period
20 is in the overbought territory, and that reading will remain in place. The Williams’
% Range may temporarily leave the overbought territory, but it would eventually
return there.
The outlook on AMZN for this year is bullish. Yes, there may be pauses
along the way (even transitory reversals, but bulls will win overall.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
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