Amazon.com intraday: below its lower Bollinger ban

Amazon.com intraday: below its lower Bollinger band

AMZN

Trading Central 2021-02-20 04:44:17

3292.5 is our pivot point.

Our preference: the downside prevails as long as 3292.5 is resistance.

Alternative scenario: above 3292.5, look for 3309 and 3318.75.

Comment: the RSI is below 30. It could either mean that prices are in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Amazon.com is trading under both its 20 and 50 period moving average (respectively at 3310.36 and 3299.22). Finally, the Amazon.com has penetrated its lower Bollinger band (3270.3).

Supports and resistances:

3318.75 **

3309 *

3292.5 **

3286

3263.93 last

3241.75

3232 **

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