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Amazon May Face an Uphill Struggle as 2022 Begins: Chart of the Day
David Russell
January 3, 2022
Consumer | Stocks | Technical Analysis

Believe it or not, Amazon.com is little changed since July 2020. Now it faces an uphill struggle as a new year begins.

The first pattern jumping off the chart is the downward-sloping trendline that began shortly before Thanksgiving. AMZN steadily trending lower as the broader market hit new highs suggests investors have shifted away from the e-commerce giant …

For more, please click here to view the related idea and chart analysis on TradingView.

Amazon.com (AMZN), chart with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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