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Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by Stockaholic, Mar 31, 2016.
Back to June levels
Yep, not a pretty picture for AMZN. My chart:
Amazon Stock Chart Teaches This Important Lesson
Today 11:02 AM ET (Benzinga)
The chart of Amazon.com, Inc. (NASDAQ: AMZN) teaches an important lesson about the markets. Some price levels are more important than others. And the $3,530 one is clearly an important one for AMZN.
It was resistance in April, support in July, and now it is resistance again. Levels can convert from resistance to support and support into resistance because of investors' remorse.
Investors who sold AMZN at $3,530 in April regret their decisions to do so after it traded at a higher price. Many of these remorseful sellers decide to buy their shares back. But they will only do so if they can get them for the same price they sold at.
As a result, they place their buy orders at $3,530. This large concentration of orders forms support like it did here.
After AMZN fell below this level, many of the investors who bought it regret their decision. A number of the remorseful buyers decide to sell.
But they don’t want to take a loss, so they place their sell orders at their buying price. This large concentration of sell orders forms resistance like it did here.
Understanding that certain levels are more important than others is a basic principle of successful trading.
To learn more about chart reading, join the new Benzina Trading School.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Amazon launches video streaming to fight Netflix and Disney India - https://www.reuters.com/technology/...ervice-video-streaming-apps-india-2021-09-24/
Will this make it bullish before the year ends? will it hit the $3500 mark sooner?
As per other news, Amazon is planning to buy crypto(speculation), which imo would be a good move especially for the crypto industry which is why I'm so bullish with a $BTCS which was recently listed on Nasdaq. They are a company with digital asset market and one of the first U.S. publicly traded companies focused on digital assets and blockchain technologies.
Here come the first wave of home robots, scouting your premises, identifying your safe room.
"Sensors on the front of the Astro robot help it avoid running into stuff."
AMZN beat earnings yesterday and announced a $20 increase in the cost of Prime. Probably a smart number to raise it by for Amazon. I heard rumors of doubling it and figured that would push a non-insignificant number of people away from the service.
One of the facilities in Staten Island just won it's Union vote to become the first amazon warehouse to unionize. In my experience, the first one is the hardest, I'd expect to see a wave of them coming.
Amazon.Com shares are trading higher after the company reported better-than-expected Q2 EPS and sales results.
Jul 29, 2022 8:21a ET
FYI - AMZN fundies.