Simplistic Technical Analysis for AMZN (November 9th 2014)

Last week I had predicted that AMZN would encouter resistance at $305 or even at $310 and then head down. Turns out that the stock hit resistance at $305 and reversed.

Through the week, the stock trended down after encountering resistance at $305 and ended the week marginally below $300.

The overall trend continues downwards with lower highs and lower lows (highlight 1). Looking across at similar MACD separations (highlight item 2, 3 and 4) we can see that the stock moved upwards in each case. At highlight 2, the stock moved considerably higher since the overall trend was positive. At highlight 3, the stock moved marginally higher but predominantly sideways.

Looking at highlight 4, and overall trends, here are my amateur predictions for the coming week...

1. The stock will move marginally higher and max out at $302.50 or $308.50

2. The stock will reverse again and fall to between $290 and $295 over the period of next 2 to 3 weeks.

Lets see how this pans out..

Simplistic Technical Analysis for AMZN (November 2nd 2014)

Like many other technology companies, Amazon's earnings disappointed a lot of analysts who were expecting a rosier outcome.

The stock that fell after hours the earnings report, has been trying to recover much of last week.

In the last week, the stock has trended up and is showing signs of a continued momentum in the coming week. Both MACD indicator as well as MFI are indicating low to severe under bought territory indicating that stock will trend higher.

My estimate is that stock will encounter resistance at 305.50 (closing price on Friday) or even at 310-315 before trending down.