AMZN: Testing Support Levels Amid Mixed Signals
🔥 LucanInvestor's Strategy:
🩸 Short: Below $215.36, targeting $215 and $205. Weakening MACD momentum and the price nearing the 200-day EMA support the bearish case.
🩸 Long: Above $220.91, targeting $225 and $230. A strong rebound from the 9-day EMA could trigger upside momentum, but it would require notable bullish volume.
🔥 LucanInvestor's Commands:
🩸 Resistance: $220.91 — A key level where rejection has occurred, marking the boundary for bullish recovery.
🩸 Support: $215.36 — A significant level to watch; its breakdown could lead to accelerated selling pressure toward lower targets.
Amazon (AMZN) is in a consolidation phase, with the MACD showing a neutral-to-bearish outlook and price action testing key support near $215. The 9-day EMA is trending below the 200-day EMA, indicating bearish pressure. Volumes remain moderate, signaling caution for both sides.
👑 "When the market hesitates, discipline dominates the game." — LucanInvestor
🩸 Short: Below $215.36, targeting $215 and $205. Weakening MACD momentum and the price nearing the 200-day EMA support the bearish case.
🩸 Long: Above $220.91, targeting $225 and $230. A strong rebound from the 9-day EMA could trigger upside momentum, but it would require notable bullish volume.
🔥 LucanInvestor's Commands:
🩸 Resistance: $220.91 — A key level where rejection has occurred, marking the boundary for bullish recovery.
🩸 Support: $215.36 — A significant level to watch; its breakdown could lead to accelerated selling pressure toward lower targets.
Amazon (AMZN) is in a consolidation phase, with the MACD showing a neutral-to-bearish outlook and price action testing key support near $215. The 9-day EMA is trending below the 200-day EMA, indicating bearish pressure. Volumes remain moderate, signaling caution for both sides.
👑 "When the market hesitates, discipline dominates the game." — LucanInvestor
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