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20.01.2022 03:50 PM
Weekly AMZN stock price analysis.
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In ourlast analysis on AMZN stock price we warned bulls that the bullish trend was near its end, the upside momentum was weakening and if price were to break below $3,320, we would get a bearish reversal signal.

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Green line -support (broken)

The weekly support trend line was broken. This provided us with a bearish signal. Combined with the bearish divergence in the RSI, this pull back is justified and was expected. AMZN is trading around $3,125 and has potential for a move lower towards $2,850 at least. Over the coming weeks I expect price to continue lower for AMZN stock price. I prefer to be neutral if not bearish this stock.

Alexandros Yfantis,
Analytical expert of InstaTrade
© 2007-2025

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