Technical Analysis – Amazon stock cautiously bullish despite pullback
Posted on February 6, 2020 at 4:16 pm GMTAmazon stock aggressively gapped up near to 2,050 on 31 January and proceeded to plot a fresh all-time-high of 2,066.36 before correcting slightly below 2,034. Buyers’ efforts are currently steering the stock back up, a move aided by the upward sloping simple moving averages (SMAs) and the recent bullish crossover of the 200-day SMA by the 50-day one. Moreover, the technical indicators suggest positive momentum may keep up with the latest move, even though the RSI and Stochastics are located [..]