GRANITESHARES 2XL AMZN ETF (AMZZ) Stock Technical Analysis
NASDAQ:AMZZ - Nasdaq - US38747R7448 - ETF - Currency: USD
Overall AMZZ gets a technical rating of 5 out of 10. AMZZ was one of the better performers in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.
In the last month AMZZ has a been trading in the 28.24 - 35.61 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been falling strongly lately, it is better to avoid new long positions here.
Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.
The short term trend is negative, the long term trend is neutral. Not much exciting going on here.
When comparing the yearly performance of all stocks, we notice that AMZZ is one of the better performing stocks in the market, outperforming 84% of all stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
AMZZ is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so AMZZ is lagging the market.
AMZZ has an average technical rating and it also does not offer a high quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
28.00
35.15
When analyzing the support we can see 2 important areas.
- Support @28.84 from a horizontal line in the weekly time frame.
- Support @28.28 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- Resistance @34.80 from a trend line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for AMZZ is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for AMZZ is down. |
| ChartMill Relative Strength | 84.65 | POSITIVE | AMZZ has a high relative strength, it outperformed 84.65% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of AMZZ is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of AMZZ is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of AMZZ is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 38.78 | NEUTRAL | The RSI value for AMZZ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.71 | NEGATIVE | The MACD value suggests AMZZ has a negative trend. |
| Stochastics (14,3) | 5.83 | OVERSOLD | The low Stochastics value suggests AMZZ may be oversold. |
| Average True Range in percent/ATR (20) | 4.48 | MEDIUM VOLATILITY | The ATR as a percentage value for AMZZ suggests some volalility. |
| Average Directional Index/ADX (14) | 27.19 | POSITIVE | The high ADX value value for AMZZ suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
28.85
+0.57 (+2.02%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg2.02%
1 Week-15.1%
2 Weeks-12.63%
1 Month-6.39%
3 Month17.61%
6 Month-22.51%
12 Month35.07%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.43
ATR(20)%4.48%
ATR Inc3.06%
Range Today0.87
ADR(20)0.98
ADR(20)%3.41%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS84.65
Mansfield-0.85
10 Day High35.61
10 Day Low28.24
20 Day High35.61
20 Day Low28.24
52 Week High41.7
52 Week Low17.77
CS1 End28.84
CR1 Start34.8
Volume & EV
DER(3)-1.24%
DER(5)-1.07%
Volume684.70K
Volume Incr322.82%
Vol(5)839.40K
Vol(50)272.84K