AMZN ends the day on a bullish note closing near the high of the day
Amazon.com Inc (AMZN) Technical Analysis Report for Jul 13, 2018
Moving higher for the 7th day in a row, AMZN ended the week 5.99% higher at 1813.03 after gaining $16.41 (0.91%) today. Today's closing price of 1813.03 marks the highest close since Inception. Trading up to $8.71 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Thursday's high at 1798.00, the market confirms its breakout through the previous session's high having traded $17.29 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Friday's trading range was $20.07 (1.11%), that's below last trading month's daily average range of $31.72. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a slightly bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.