Study: why Amazon will make a short term pullback


Amazon’s stock has been on fire recently. It went up 9 days in a row.

Meanwhile, Amazon’s monthly RSI is extremely high.

When Amazon’s stock goes up 9 days in a row, it tends to go down in the next month.

Click here to download the data in Excel.

Conclusion

Amazon will probably make a short term pullback before heading higher. This study suggests that Amazon will face some short term weakness in the next month.

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