Technical Outlook Video for AMZN and WMT for Week of July 17th

AMZN and WMT Techncial Outlook Video

This week we will be be looking at two big online retailers, Amazon AMZN and Wal-mart WMT.

FOR AMZN

image of AMZN app iconLooking 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.

FOR WMT

image of WMT App iconOn 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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