The River is Flowing Again:
Denial is a river in Egypt, and perhaps what AMZN bears are feeling with this nascent push upward, but the Amazon in South America is gushing here. It feels like there may be a magnetic pull toward 200 in the near term, the location of a bearish gravestone doji candle on 7/9. The was the canary in the coal mine before the break BELOW a bull flag, and we know from FALSE moves come fast ones in the opposite direction. But it has since reset and one month ago it reclaimed its 200 day SMA and Wednesday its 50 day SMA. Baby steps. Below is the daily chart and this should gravitate toward the double bottom pivot near 190 soon, and its MONTHLY chart shows August recording a bullish hammer candle with a 40 handle range, but CLOSING just below the long cup base pivot of 188.41. It found support at the 50 MONTH SMA and notice volume has been indecisive since 2023. This action could be misleading, as volume tends to pick up once the naysayers convert to believers. Of course, it may or may not happen but a purchase here with a CLOSING stop of 175 seems like good risk/reward.