AMZN: Will Port Strike Affect AMZN?
No bias, just based on TA
Current Price Action
AMZN is currently in a downtrend, forming lower highs and lower lows, indicated by the descending channel on the chart.
Price is consolidating around $185.67, which suggests the potential for either a short-term bounce or continued bearish momentum.
Support and Resistance Levels
Resistance Levels:
$189.55 - $190.16: This zone has been a significant resistance area where previous attempts to break higher were rejected. If the price rises, watch for resistance at this zone.
$194.85 - $195.37: Should AMZN see a strong bounce, this area would be the next target, which also aligns with previous peaks.
Support Levels:
$185.67 - $184.66: Immediate support zone, where the price is currently hovering. A break below this level could signal further downside.
$180.00: This is a psychological and technical support level that could attract buyers if AMZN continues to slide.
Entry and Exit Points
Bullish Entry:
If the price manages to break above $190.16 with solid momentum, this could indicate a reversal of the current downtrend, offering a long entry opportunity. Look for confirmation with increased volume.
A possible target for this bullish move would be the resistance at $195.37.
Bearish Entry:
A failure to break above $189.55 and a subsequent rejection or breakdown below $185.67 would present a potential shorting opportunity. The next target would be $184.66 and possibly $180.
Exit Points:
Bullish Exits: Around $190.16, or $195.37 if there’s strong momentum.
Bearish Exits: Targets would be $184.66 or further down at $180.
Suggested Direction for Tomorrow
Bearish Bias: Given the current downward channel and lack of strong bullish indicators, the bias seems to be bearish. If AMZN fails to break through the $189.55 - $190.16 resistance zone, the downtrend is likely to continue.
Bullish Case: If there’s a bounce and AMZN can break above $190.16 with strong volume, it may signal the start of a reversal, targeting the $194.85 level.
Current Price Action
AMZN is currently in a downtrend, forming lower highs and lower lows, indicated by the descending channel on the chart.
Price is consolidating around $185.67, which suggests the potential for either a short-term bounce or continued bearish momentum.
Support and Resistance Levels
Resistance Levels:
$189.55 - $190.16: This zone has been a significant resistance area where previous attempts to break higher were rejected. If the price rises, watch for resistance at this zone.
$194.85 - $195.37: Should AMZN see a strong bounce, this area would be the next target, which also aligns with previous peaks.
Support Levels:
$185.67 - $184.66: Immediate support zone, where the price is currently hovering. A break below this level could signal further downside.
$180.00: This is a psychological and technical support level that could attract buyers if AMZN continues to slide.
Entry and Exit Points
Bullish Entry:
If the price manages to break above $190.16 with solid momentum, this could indicate a reversal of the current downtrend, offering a long entry opportunity. Look for confirmation with increased volume.
A possible target for this bullish move would be the resistance at $195.37.
Bearish Entry:
A failure to break above $189.55 and a subsequent rejection or breakdown below $185.67 would present a potential shorting opportunity. The next target would be $184.66 and possibly $180.
Exit Points:
Bullish Exits: Around $190.16, or $195.37 if there’s strong momentum.
Bearish Exits: Targets would be $184.66 or further down at $180.
Suggested Direction for Tomorrow
Bearish Bias: Given the current downward channel and lack of strong bullish indicators, the bias seems to be bearish. If AMZN fails to break through the $189.55 - $190.16 resistance zone, the downtrend is likely to continue.
Bullish Case: If there’s a bounce and AMZN can break above $190.16 with strong volume, it may signal the start of a reversal, targeting the $194.85 level.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.