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.
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.