GRANITESHARES 2XL AMZN ETF (AMZZ) Stock Technical Analysis
NASDAQ:AMZZ - Nasdaq - US38747R7448 - ETF - Currency: USD
Taking everything into account, AMZZ scores 8 out of 10 in our technical rating. AMZZ has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.
The long and short term trends are both positive. This is looking good!
In the last month AMZZ has a been trading in the 27.76 - 32.85 range, which is quite wide. It is currently trading near the high of this range.
Looking at the yearly performance, AMZZ did better than 90% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
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.
Besides having an excellent technical rating, AMZZ also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 32.56. Right above this resistance zone may be a good entry point.
More info and screens
27.74
32.89
We found 3 important support areas.
- Support @31.09 from a trend line in the daily time frame.
- A support zone ranging from 29.31 to 29.61. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 28.02 to 28.46. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 32.56 to 32.56. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The long term trend for AMZZ is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for AMZZ is up. |
| ChartMill Relative Strength | 90.63 | POSITIVE | AMZZ has a high relative strength, it outperformed 90.63% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of AMZZ is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of AMZZ is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of AMZZ is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 63.57 | NEUTRAL | The RSI value for AMZZ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.06 | POSITIVE | The MACD value suggests AMZZ has a positive trend. |
| Stochastics (14,3) | 90.03 | OVERBOUGHT | The high Stochastics value suggests AMZZ may be overbought. |
| Average True Range in percent/ATR (20) | 3.68 | MEDIUM VOLATILITY | The ATR as a percentage value for AMZZ suggests some volalility. |
| Average Directional Index/ADX (14) | 22.73 | NEUTRAL | The ADX value for AMZZ suggests a possible start of a new 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)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 32.57 | 31.08 | 1.49 (4.57%) | 21.86% |
| An entry @32.57. This is a Buy Stop order right above the resistance zone. | An exit @31.08. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.49 points, which is 4.57%. | For a 1.00% total portfolio risk, you can invest 21.86% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of AMZZ. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
32.55
+0.15 (+0.46%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.46%
1 Week1.62%
2 Weeks1.78%
1 Month11.09%
3 Month64.23%
6 Month-10.53%
12 Month24%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.19
ATR(20)%3.68%
ATR Inc-24.72%
Range Today0.65
ADR(20)1.12
ADR(20)%3.44%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS90.63
Mansfield0.45
10 Day High32.85
10 Day Low30.52
20 Day High32.85
20 Day Low27.76
52 Week High41.7
52 Week Low17.51
CS1 End31.09
CR1 Start32.56
Volume & EV
DER(3)-0.1%
DER(5)-2.51%
Volume179.90K
Volume Incr6.02%
Vol(5)253.08K
Vol(50)286.92K