Amazon.com, Inc (AMZN) – [Technical Outlook]

Chart Source: Tradingview.com 24th Aug 2021

Everyone should be familiar with the name Amazon and probably ordered something via them before. It had a gap down due to its results and saw further downside after that.

There seems to be a nice support of around $3175 where the price shows some rejection to the downside. It climbed yesterday but is currently resisted by that downtrend line we drew. More upside can be seen if it can break above $3266 which is that downtrend line. A rest towards the 20ema first of around $3330 then around the gap resistance of $3390 which is also around the 50ema.

Next level of support at $3127.

Yours

Humbly

Kelwin&Roy

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