AMZN and WMT Techncial Outlook Video
This week we will be be looking at two big online retailers, Amazon AMZN and Wal-mart WMT.
Looking at amazon on the daily and hourly time frames, I’m thinking that price will probably range around here a little bit but overall I’m looking for price to push up very strongly. From a psychological standpoint I’m seeing the $1000 as a big number and price has been over it a few times. I’m thinking that it is now a weak psychological number and price can move above it into clear blue skies.
On Wal-Mart for this coming week, I’m thinking that if price can break 76.83 then we could see something to the upside. However, I believe that we will see price pushing down as demand is close by where price currently is and it’s weak. There has been a lot more supply and resistance areas formed over the past few days and I’m looking for a new possible downtrend to form. Bottomline, is that price has been in an uptrend so we will see if that can continue or not.
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