If there is one company that flourished by government Covid policy, lockdowns, support packages and "free" money, it`s Amazon. Now that interest rates rise, the quantitative easing slows down and loans will be more expensive, we see an overall drop in stock prices, especially in the tech sector which stocks has been manipulated most under central bank policy, in my opinion when looking at all these tech stocks the bottom is far from in.
The Amazon chart is showing us very clear where we are going with it`s ascending broadening wedge that has broken out on the downside. Next to all those factors named before, people had more money to spend and more interest in goods during covid lockdowns, there will be less requests for goods this year, throw in an upcoming recession and big warehouse stock caused by the fear of future supply chain problems and we will see prices between $65 / $57 per share.
The Amazon chart is showing us very clear where we are going with it`s ascending broadening wedge that has broken out on the downside. Next to all those factors named before, people had more money to spend and more interest in goods during covid lockdowns, there will be less requests for goods this year, throw in an upcoming recession and big warehouse stock caused by the fear of future supply chain problems and we will see prices between $65 / $57 per share.
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