$AMZN TOP 20
Added 2023-03-25 20:55:44 +0000 UTC$AMZN is still a bit behind the other Mega Cap Stocks, in the middle of its downward channel and below its 200 Day MA, what is in its favour is that it has held the 0.65 Fib so Wave 2 complete and entering Wave 3 in green is still a possibility. Big test above will be the 200 Day MA, if it can flip this it has a chance to complete Wave 3.
RSI turned downward this week after showing positive signs the previous week, this may just be a pull back, MACD is showing sideways movements after crossing downwards during Wave 2.
Still a bit to do here and I suspect it is down to their weak earnings and a concern that if or when the recession hits, consumers may need to tighten their spending on unnecessary spending habits like ordering too much on Amazon.
