AMZN Current Price Action:
Price: $201.12
Recent Drop: -2.95 (-1.45%)
Support and Resistance Levels:
Immediate Resistance: $208–$212 (recent rejection zone)
Immediate Support: $193.06 (Target Price 1)
Further Supports:
Target Price 2: $187.83
Target Price 3: $167.55
Target Price 4: $164.72 / $163.55
Target Price 5: $151.54
Final Wave Target (c): $133.70
Trendlines:
Green Downtrend Line: Remains respected; price rejected at confluence.
Red Long-Term Support Trendline: Still valid; could act as a structural bounce level if tested.
Recent price action shows a breakdown from the short-term bullish move, indicating possible start of wave (c) to the downside.
Wave Structure:
Completion of corrective wave (b) followed by potential impulsive wave (c) targeting lower support areas.
Elliott Wave count suggests $133.70 is a possible wave (c) extension zone under bearish pressure.
Target Prices:
Target Price 1: $193.06
This zone is a minor support where bulls may attempt a defense.
Target Price 2: $187.83
A structural level from previous consolidation and a high-probability zone for price reaction.
Target Price 3: $167.55 – $163.55
Consolidated support zone; may attract buying interest or lead to acceleration if broken.
Target Price 4: $151.54
1-year support and psychological level.
Target Price 5 / Wave (c): $133.70
If the bearish wave unfolds fully, this is the projected terminal zone.
Summary:
Amazon (AMZN) has rejected a key resistance zone and appears to be entering wave (c) of a broader correction. The structure is bearish below the downtrend line and indicates further downside. Critical support levels to watch are $193.06 and $187.83 in the short term, with deeper targets at $167.55 and possibly as low as $133.70. This correction could accelerate if key support zones are breached.
no pain, no gain
Unveiling illusions, revealing wealth
Unveiling illusions, revealing wealth
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.
no pain, no gain
Unveiling illusions, revealing wealth
Unveiling illusions, revealing wealth
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.