December 18, 2011

  • Amazon weekly chart shows price taking support at the support line of a broadening pattern. If the support line of this pattern holds we may get a bounce in Amazon.
  • One thing to note is that price is yet to hit the long term trend line of Amazon.
  • Daily chart shows positive Divergence. For this to be effective price should trade above 20 Day SMA, For a bigger bounce 50 Day SMA too has to be taken out.


All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.


Blog Archive

Powered by Blogger.

My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore