Golden Cross Appears Before Amazon.com Investors
Portfolio Pulse from Benzinga Insights
A golden cross has formed on Amazon.com's (NASDAQ: AMZN) chart, which could be bullish for the stock. The golden cross occurs when the 50-day moving average crosses above the 200-day moving average, signaling a potential change in the long-term trend.
May 26, 2023 | 2:55 pm
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Amazon's chart shows a golden cross, which could indicate a bullish trend for the stock. Seasoned investors may consider long positions based on other factors.
The golden cross is a technical indicator that occurs when a stock's 50-day moving average crosses above its 200-day moving average. This is generally considered a bullish signal, suggesting that the stock's long-term trend may be changing. In the case of Amazon, the golden cross could lead to an increase in the stock price, especially if other factors such as price levels and company fundamentals support the bullish trend. However, it's important to note that seasoned investors don't blindly trade golden crosses and use it as a signal to start considering long positions based on other factors.
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