Amazon weekly analysis:
Currently we are above the black drawn weekly trend line. We could see the price come back and test the trend line over the next few weeks and if it stays above the trend line then it is likely to continue to rise over the next few months.
If the price drops below the trend line then we could see some consolidation as was seen last year from July to October 2017.
With the big move up over the last 2 weeks, I see some consolidation over the next few weeks either way.
However the recent news about the rollout of the new store 'Amazon Go' could create further interest from investors thus a further week moving up is not out of the question but a consolidation is on its way I feel.
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