• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Amazon.Com Inc (NASDAQ:AMZN)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Amazon.Com Inc (NASDAQ:AMZN) based on the price action in the company's shares. Today's price range of $1,913.24 and $1,916.52 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Amazon.Com Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Amazon.Com Inc (NASDAQ:AMZN) defies analysts with a current price ($1915.42) 2.0% above its average consensus price target of $1876.88. The stock should find initial support at its 50-day moving average (MA) of $1863.57 and further support at its 200-day MA of $1748.01.

Amazon.com, Inc. is an online retailer that offers a wide range of products. The Company products include books, music, videotapes, computers, electronics, home and garden, and numerous other products. Amazon offers personalized shopping services, Web-based credit card payment, and direct shipping to customers.

Amazon.Com Inc share prices have moved between a 52-week high of $2050.50 and a 52-week low of $1307.00 and are now trading 47% above that low price at $1915.42 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

SmarTrend is monitoring the recent change of momentum in Amazon.Com Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Amazon.Com Inc in search of a potential trend change.

Keywords: bearish inside day candle amazon.com inc

Ticker(s): AMZN