Amazon.comShort
Amazon Wave Analysis – 7 February 2025
- Amazon reversed from the resistance area
- Likely to fall to support level 226.60
Amazon recently reversed down with the downward gap from the resistance area between the pivotal resistance level 240.00 (which has stopped the previous waves iii and i), the resistance trendline of the daily up channel from August and the upper daily Bollinger Band.
The downward reversal from the resistance area started the active short-term correction ii.
Given the strength of the resistance area near the resistance level 240.00 and the overbought daily Stochastic, Amazon can be expected to fall to the next support level 226.60.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.