Eclubtrading

Has $AMZN completed its recent downtrend?

شراء
NASDAQ:AMZN   Amazon.com
$AMZN was a big winner for our portfolio as the e-commerce giant showed good relative strength yesterday from the open. It managed to reverse early losses and closed above the prior low. From a technical perspective the move from the channel to $2050 has made it oversold enough that it has a bigger potential to bounce than most other tech stocks. It needs a close above its 8EMA to confirm yesterday's action. $2280 is the level to watch in the next few sessions. Keep in mind that the summer stock split will be a big tailwind.

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