AMZN and INTC Anlysis & Forecast Video
Watch the multi timeframe technical analysis video for AMZN and INTC
On Amazon, Price has been moving in an uptrend. Right now it’s coming back into daily demand. I believe price will go through this daily demand zone at 955.62 down to 922.68. The reason I believe this is because price has hit this zone so many times in the past. If it does break it, then it might be a nice area in the future to to take short again as I know price will reform major demand become fresh supply in the future. Until price breaks through the daily demand zone, the trend is up for now and we need to respect that trend and trade with that trend. This is from a purely technical analysis perspective.
On Intel this week. Price has bounced off of daily supply at 36.68 up to 37.51 and now I’m looking price to bounce back down to daily demand at 33.96 down to 33.25. Along that path don’t be surprised to find a little new fresh support at 34.82 down to 34.26. These are the major areas that I’ll be watching over the next week as price is falling back to demand. Overall on Intel the Trend is Down and I’m looking for it to continue south as price follows that new trend that just started in July.
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