Annual forecast for Amazon (2021)
By
Azeez Mustapha
PUBLISHED:
29 May 2021 @ 14:45
|
Comments (0)
|
More info about Azeez Mustapha
Amazon shares (NASDAQ:AMZN) are a bullish market in the near term. The market is also rising upwards after a serious bearish run that started early this month.
4 EMAs are used for this analysis and they are EMAs 10, 20, 50, and 200. The color that stands for each EMA is shown at the top left part of the chart.
All the EMAs are sloping upwards, plus the EMA 200, which reveals that the long-term trend is bullish. There may be pullbacks along the way, but price is expected to recover eventually and move further upwards. As long as price stays above the EMAs 50 and 200, the outlook on this market will remain bullish.
The bias on AMZN is bullish for this year, and the market can go upwards to test the distribution territories at 3400, 3500 and 3600 before the end of the year.
Teach Yourself Technical Analysis: Teach Yourself Technicals
CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).
This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.
Hot Features
Premium
Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.
