Shares of Amazon.com (AMZN) has nearly doubled from their large consolidation pattern in 2018 and 2019 around the $1,800 area, but that does not mean the rally is over.
Let's check out the latest charts and indicators of this Action Alerts PLUS holding.
In the daily bar chart of AMZN, below, we can see how the shares have soared from their March low. Prices have climbed higher with sideways corrections. AMZN is above the rising 50-day moving average line and probably extended above the rising 200-day moving average line.
The trading volume has been more active since early February as traders and investors have been attracted to the online retailer. The On-Balance-Volume (OBV) line has been rising since the middle of March and tells us that buyers of AMZN have been more aggressive with heavier trading volume being transacted on days when AMZN has closed higher.
The trend-following Moving Average Convergence Divergence (MACD) oscillator has been bullish for most of the year and just turned upward to a fresh outright go long signal.