U.S. Markets closed
  • S&P 500

    4,173.85
    +61.35 (+1.49%)
     
  • Dow 30

    34,382.13
    +360.68 (+1.06%)
     
  • Nasdaq

    13,429.98
    +304.99 (+2.32%)
     
  • Russell 2000

    2,224.63
    +53.68 (+2.47%)
     
  • Crude Oil

    65.51
    +1.69 (+2.65%)
     
  • Gold

    1,844.00
    +20.00 (+1.10%)
     
  • Silver

    27.52
    +0.47 (+1.72%)
     
  • EUR/USD

    1.2146
    +0.0062 (+0.5101%)
     
  • 10-Yr Bond

    1.6350
    -0.0330 (-1.98%)
     
  • Vix

    18.81
    -4.32 (-18.68%)
     
  • GBP/USD

    1.4102
    +0.0050 (+0.3582%)
     
  • USD/JPY

    109.3470
    -0.0870 (-0.0795%)
     
  • BTC-USD

    50,036.52
    +125.09 (+0.25%)
     
  • CMC Crypto 200

    1,398.33
    +39.77 (+2.93%)
     
  • FTSE 100

    7,043.61
    +80.28 (+1.15%)
     
  • Nikkei 225

    28,084.47
    +636.46 (+2.32%)
     

Amazon's recent stock surge has helped fend off bearish 'death cross' pattern, for now

Tomi Kilgore
·1 min read
Amazon's recent stock surge has helped fend off bearish 'death cross' pattern, for now
  • Oops!
    Something went wrong.
    Please try again later.

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 $2.167 per day over the 30 days to April 8, falling to $3,169.008 on April 8, while the 200-DMA was rising at an average daily rate of $2.989 to $3,160.075 on April 8. But give the stock's recent rally, the stock 50-DMA turned up on Friday, and rose by $2.963 on Monday to $3,174.764, while the 200-DMA rose by $3.256 to $3,166.371, 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%.