Get all your news in one place.
100's of premium titles.
One app.
Start reading
Barchart
Barchart
Wajeeh Khan

Amazon Stock Is Overbought Amid Globalstar Deal. Is a Pullback Coming?

Amazon (AMZN) shares rallied on April 14 after the tech titan announced a definitive $11.6 billion agreement to acquire Covington-headquartered satellite connectivity firm Globalstar (GSAT). 

The bullish momentum drove AMZN’s relative strength index (14-day) into the mid-70s, signaling “overbought” conditions that often precede a sharp correction. 

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.