AMZN has been recovering from its December decline. Over the past several weeks, we’ve reached a 50% retracement of the fall, hovering around 1650. Both the 8-Day and 50-Day Exponential Moving Averages have too recovered, to the point of potentially crossing today. This 8-Day / 50-Day EMA cross, usually signals a bullish breakout. We need to stabilize and move higher than 1676 to continue higher to 1700.
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