AMZN closes higher for the 3rd day in a row
Amazon.com Inc. (AMZN) Technical Analysis Report for Dec 13, 2019 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, AMZN finished the week 0.53% higher at 1760.94 after edging higher $0.61 (0.03%) today, slightly underperforming the Nasdaq 100 (0.25%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.
Daily Candlestick Chart (AMZN as at Dec 13, 2019):
Friday's trading range has been $13.88 (0.79%), that's far below the last trading month's daily average range of $22.53. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for AMZN.
Prices are trading close to the key technical resistance level at 1764.57 (R1).
The stock shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.
Further selling could move prices lower should the market test November's nearby low at 1722.71.
With two of the other FAANG Stocks closing higher and two closing lower today, the winners of the day are AAPL surging 1.36% and NFLX gaining 0.02%. On the flipside the worst performers have been FB closing -1.34% lower and GOOGL losing -0.12%. Read more