Amazon Hits above 1500 and Investors Should Ready For a Price Drop

Amazon Price Chart

Amazon Daily Price Chart by Trading View

Amazon Share Price got hit above $1,500 in NASDAQ Stock Exchange and according to technical prediction the share price to make a down trend. Here's what we got after doing deep analysis with multiple technical tools.

If you look at the daily price chart there were two days which was 2nd of February 2018 and yesterday 21st of February 2018 and after the 2nd of February 2018 there was a price drop of Amazon happened to $1,265.93. Then yesterday with the amazon price hit to above $1,500 Share price got declined and marked a closing at $1,482.92. 

Amazon Hourly Price Chart

Amazon Hourly Price Chart by Trading View

If you analyze closely with the Relative Strength Index RSI value momentum you will be able to see the momentum which created by amazon to a long period of time without dropping the price below $1,000. By Analyzing the daily and weekly and intraday charts, we are confident to tell you that Amazon will get drop to below $1,100 or below 1,050 in coming weeks.