Let's Check AMZN PairG'day Guys.
Since stock become more popular. Let's try to analyst it. From my perspective, i categories it into two phases.
First phase based on Bigger Time-Frames.
In weekly time-frames, AMZN forming of HNS and sideways. Based on technical analysis price actions, this pair might going to consolidation which is expecting looking for Demand Zone. For me, at the moment AMZN way to high.
Based on market cycles, price need to retrace before bullish rally. In Business perspective, if AMZN did not make any changes soon on their business structure or business operations. It will drag their stock further down, unless they make some improvement to make sure they keep sustain with other competitors which is keep looking for improvement to make more money and trust from their share holder.
Second phase based on Hourly Time-Frames.
In here, we expecting some small retrace before continue bearish which to complete market cycle.
Let's see what happen with this pair. Give me some comment or idea that might self improvement.
Cheers.
