Amazon share price fell badly towards the end of last year from 1965.54 to 1676.34. This fall might be as a result of the release of third-quarter earnings. Despite concerns about its forward guidance, price of $AMZN is beginning to rise which might make price reach the previous all time high of 2050.30. Throughout the month of May, the $AMZN price was in the lower region of the Bollinger bands. A breakout upwards occurred mid June and price has since then resumed to the upper region of the Bollinger bands. The trendlines have been broken after the dip.
As price rallies, Ichimoku has been able to show us a bullish future and a breakout upwards of the cloud has occurred. This indicates a significant bullish takeover. In April, RSI was able to show an overbought region before the dip. Now the oversold region has been shown on the RSI daily chart which signalled a rally. The efforts of the bulls might make price reach a new high in 2019