Amazon’s Irony: Stock Shows Bullish And Bearish Traits At Same Time By Scalper1 | March 23, 2016 0 Comment Scalper1 News alt : http://feedproxy.google.com/~r/InternetTechnologyRss/~5/lX82WmuTQOE/Tech_032316_AMZN_FB_GOOGL_MSFT_AAPL_sd.mp4http://feedproxy.google.com/~r/InternetTechnologyRss/~5/lX82WmuTQOE/Tech_032316_AMZN_FB_GOOGL_MSFT_AAPL_sd.mp4 Loading the player… Amazon ( AMZN ) is currently trading about 18% off of its high, reached at the end of last year; a weak Q4 earnings report in late January dragged it down. And now reports say that a rival, Alphabet ( GOOGL )-owned Google, is winning some big cloud service clients, including Disney ( DIS ), Home Depot ( HD ), Apple ( AAPL ) and Spotify. The Google platform competes against the e-commerce giant’s Amazon Web Services cloud service. Amazon shares are finding support at a key area today, but the technicals are also flashing a potentially bearish sign. The stock rose 1.6% in light trade Wednesday, finding support at its 50-day and 200-day lines as it works on a consolidation pattern. But those lines could soon cross, an action that’s bearish and signals short-term underperformance. Meanwhile, Alphabet is working on a cup base with an 810.45 buy point. Alphabet shares are currently trading 6% below that pivot point and fell 0.3% Wednesday. And speaking of widely held tech stocks, Facebook ( FB ) is working on a cup base with a 118.69 buy point. The stock is trading 4% below its buy zone. Facebook shares edged up 0.3% Wednesday. Microsoft ( MSFT ) is shaping a consolidation base with a 56.85 buy point and is trading 5% below the pivot. Microsoft shares dipped 0.2% Wednesday. And Apple has been in a consolidation pattern since last April. It’s trading 21% below its high, reached about 11 months ago. Apple shares lost 0.6%. Scalper1 News Scalper1 News Related posts: Amazon Stock Retakes Critical Level; Netflix Trips Bearish Signal This FANG Stock Just Tripped A Very Bearish Signal Netflix Gets Bullish Call, But Stock Stages Downside Reversal Apple Stock Retakes Critical Level As Market Surges