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02.01.202212:31 Forex Analysis & Reviews: AMZN stock price weekly warning to bulls.

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Technically AMZN stock price remains in a bullish trend as price continues making higher highs and higher lows. The weekly RSI has provided a bearish divergence signal. This is a warning that the upside momentum is weakening.

Blue line - support

Green line- bearish Divergence

Amazon stock price is trading around $3,340 testing the weekly support trend line at $3,320. Breaking below the weekly trend line combined with the bearish RSI divergence, it would produce an important reversal warning. Such a bearish signal would imply that a correction towards $2,850 is highly probable, with increased chances of moving even lower towards $2,500. It is too early to call such a reversal, but the warning signs are there and traders need to be cautious.

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