Amazon gaps up. Buy and buy more

PUBLISHED: May 05 2019 @ 04:02 | Comments (0) | More info about Azeez Mustapha

Amazon shares (NASDAQ:AMZN) have gapped up as a result on an ongoing strong buying pressure in the market. This is a trend that is supposed to continue for most of this year.

Price reached a significant low in December 2018, and then rose up, only to trade sideways later. The sideways movement ended in March 2019 as price assumed a new lease of bullish movement, which remains in place till now.

The market is currently above the EMA 21, and the Williams% Range period 20 is in the overbought territory, and that reading will remain in place. The Williams’ % Range may temporarily leave the overbought territory, but it would eventually return there.

The outlook on AMZN for this year is bullish. Yes, there may be pauses along the way (even transitory reversals, but bulls will win overall.

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