Annual Forecast for Amazon (2018)

PUBLISHED: 01 Mar 2018 @ 01:24 | Comments (0) | More info about Azeez Mustapha

Amazon stock (NASDAQ:AMZN) is a bull market. It consolidated in September and October 2017, gapped upwards towards the end of October and then trended upwards from then till now.

In January, price went above the upper Trendline, trending further upwards. Even the large pullback that happened this month was not significant enough to force price back below the upper Trendline.

The RSI period 14 is above the level 60 – a clean bullish signal. The outlook on Amazon is very bright for the year 2018, and price may reach the distribution territories at 1600.00, 1700.00 and 1800.00.

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