: Amazon's recent stock surge has helped fend off bearish 'death cross' pattern, for now #FinanceUSA #StockMarketNEWS Amazon.com Inc. stock's recent surge, in which it has shot up 9.3% this month
@stockMarketNEWS Tue 13 Apr, 2021
Amazon's recent stock surge has helped fend off bearish 'death cross' pattern, for now #FinanceUSA #StockMarketNEWS
Amazon.com Inc. stock's recent surge, in which it has shot up 9.3% this month toward a six-month high in afternoon trading Monday, as helped stave off an impending bearish "death cross" pattern, at least for now. A "death cross" appears when the 50-day moving average (DMA), which many see as a shorter-term trend tracker, crosses below the 200-DMA, which is seen as a dividing line between longer-term uptrends and downtrends. Many chart watchers say the "death cross" marks the spot a shorter-term uptrend transitions into a longer-term downtrend. The 50-DMA was declining at an average daily rate of .167 per day over the 30 days to April 8, falling to ,169.008 on April 8, while the 200-DMA was rising at an average daily rate of .989 to ,160.075 on April 8. But give the stock's recent rally, the stock 50-DMA turned up on Friday, and rose by .963 on Monday to ,174.764, while the 200-DMA rose by .256 to ,166.371, suggesting the 50-DMA will rise further above the 200-DMA, over the near term. The last time the 50-DMA was below the 200-DMA was Feb. 4, 2020. The stock's rally so far this month has outperformed the S&P 500's month-to-date gain of 3.7%.