Amazon Stock Analysis

The stock has rallied in recent trading on intraday basis, following the support level at 1352.88. The stock is attempting to compensate for some of its previous losses, achieving a 9.45% gain of 126.94 points as the short term corrective wave is in line with a trend line. Continue the negative pressure of the SMA for the previous 50-day period.

Therefore, we expect the decline of the stock during the next trading, to target the level of support 1420.00, throughout the stability of the resistance 1575.97.

Expected Trading Trend: Likely to Decline