25.01.2019
Amazon is trying to rebound after the decline in the last three sessions as the stock approached the 1591.40 support level and rebounded.
The moving averages were 50-20 support for the price at the mentioned level.
We see a positive cross between the two averages which is a positive sign for the rise and an attempt to test the resistance level 1679.05 and break it.
The Stochastic is providing different information as it moves in a descending path. Therefore, we should wait until next week to get clear signals of price action
The expected movement between support is 1.591.40 and resistance is 1765.54
Support and resistance:
Support: 1591.40-1481.85
Resistance: 1679.05-1765.54
The general direction of the movement: neutral with a tendency to rise
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