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2022-03-12

$Amazon.com(AMZN)$Dead Cat bounce🙀?
AMZN weekly chart
share price first dip below 40 EMA back in week of 1/3/21 but quickly recovered
subsequent dip below 40 EMA was on week of 3/1/22 but this time, for many weeks share price continues to stay below amid on volatile ride.

weekly RSI weak below 40, 40 EMA turning down, this is more like a bearish distribution before another leg of down move towards 2400 (or commonly known as Dead Cat bounce)

void if share price close up above 3175

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