Saad Ullah
Shares of Amazon (AMZN) gained $5.51. This dynamic of + 0.2% was observed in the last 4 hours of trading on the exchange.
At the same time, peers in the same Retail sector declined by an average of 0.73%, while the broader technology sector grew by an average of 0.35%.
Amazon stock has been growing steadily over the past 7 days, but yesterday the positive streak ended with a 1.09% close. It is worth noting that this decline was the growth of sales. Compared to a week earlier, it rose by 15.11%. This surge in volumes may indicate that.
The main trend can be observed on the 30-day chart, which shows the full picture. At the same time, it is worth to mention that over the past 10 days, the shares closed with 7-days-growth.
At the moment, we can observe a bearish takeover model, which was formed during last two days of trading. Also, if you look at larger timeframes, you may see that the trend is ready to take a step back and go for a correction.
Saad Ullah
