Amazon shares have continued to gain upward momentum, reaching a new all-time high above $259. Although price saw a notable pullback afterward, it has recently shown renewed signs of strength. We primarily expect further price gains as part of a corrective upward move, with a top forming somewhere between $259 and $282.38. Once this high is in place, the stock is likely to turn lower and fall below support at $220.47. Alternatively, the (corrective) high may already be in. In this case, AMZN would move directly into a downward trend and drop below support at $220.47 (probability: 30%).
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📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.