Technical Pulse: Amazon.com Inc December 7, 2021 638

Amazon.com Inc (US: AMZN) Technical price action indicates a potential return despite a consolidative period for a year:

 

  1. The larger ascending triangle formation is indicative of a bullish continuation pattern ahead.
  2. The tweezer bottom and harami pattern have rebounded at our key support zone. Furthermore, the candles are seen rebounding from Senkou-Span A and B’s kumo.

 

*Expected timeline of the trade is 15 weeks from the date of report issuance.

 

We have a fundamental buy call on Amazon.com Inc dated 2nd November 2021

 

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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