A Deep Dive into Technical Analysis w/ Danny Cheng
A look at big techs: $AMZN, $AAPL, $MSFT, $META, $GOOG (7 June 2024-daily)
Almost all big tech stocks are showing a bullish trend. Congratulations to Amazon (AMZN) investors, as we identified the bottoming process just a few days ago. The red candle yesterday confirmed this bullish sentiment. AMZN has strong support levels at $178.5 and $181.3. The most recent daily candle has completely overtaken the previous blue ribbon and closed above it, indicating a bullish outlook. However, whale accumulation has decreased slightly to 15.234%. Both the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) are showing signs of upward momentum.
