It really wasn’t that long ago when Amazon (AMZN) was looked upon as the class of the bunch – the company that kept rising when the economy wasn’t.
Fast-forward a few months later, an iPad, and a bunch of other factors, and suddenly the online retailer doesn’t seem has attractive has it once did. Technically speaking, the stock chart doesn’t bode well for Amazon either.
It clearly looks like a top has been formed; both RSI and MACD are in the dumps and the stock has dipped below the 200-day moving average.
While the chart pretty much tells the whole story, Adam’s latest video analysis of Amazon dives into this stock play a little deeper.
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