AMZN Consolidation with Potential for Further Pullback
Amazon (AMZN) is currently trading within a range, indicating a phase of accumulation where smart money is positioning itself. The selling volume remains strong, suggesting that the bearish pressure is not yet exhausted, and we could see further downside movement.
Key technical factors:
The price is respecting a descending triangle pattern, with lower highs forming a downtrend while holding support near 228.00.
Fibonacci retracement levels indicate potential support at 227.99, aligning with the 0.0 Fibonacci level, which could act as the next target for the pullback.
The 0.236 Fibonacci level (229.03) is currently a resistance area, with price struggling to break above.
If the selling momentum continues, we may see a breakdown below 227.99, leading to further downside targets.
Conversely, a breakout above the descending trendline and 230.21 (0.5 Fibonacci level) could signal a bullish reversal.
Traders should monitor volume and price action closely, as a breakout or breakdown from this range could determine the next directional move for AMZN.
Key technical factors:
The price is respecting a descending triangle pattern, with lower highs forming a downtrend while holding support near 228.00.
Fibonacci retracement levels indicate potential support at 227.99, aligning with the 0.0 Fibonacci level, which could act as the next target for the pullback.
The 0.236 Fibonacci level (229.03) is currently a resistance area, with price struggling to break above.
If the selling momentum continues, we may see a breakdown below 227.99, leading to further downside targets.
Conversely, a breakout above the descending trendline and 230.21 (0.5 Fibonacci level) could signal a bullish reversal.
Traders should monitor volume and price action closely, as a breakout or breakdown from this range could determine the next directional move for AMZN.
Uwaga
AMZN pulled way back! 
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.