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Market Insights

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Chart of the Day: Potentially Bearish Candlestick Pattern in Amazon.com
David Russell
February 9, 2023

Amazon.com tried to rally a week ago. It proceeded to fall on weak quarterly results, leaving some potentially difficult patterns on the daily chart .

First, the single candlestick on February 2 was isolated above the other recent prices. That is sometimes known as a bearish “abandoned baby” — essentially a failed breakout.

The location of the candlestick is potentially important. By occurring at …

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

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

About the author

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.