Amazon stock analysis 12.07.2019

AMAZON climbed above the resistance level of 1963.67 to reach the historic high of 2048.00 set in September last year.

The price is hovering above the moving averages 7-7 and 50 which form price support levels and pressure on it to rise and test the resistance again.

Stochastic is moving within the overbought area and there is a negative cross between its lines so we can see the price attempt to decline and test the support 1963.70.

The expected movement between 1891.80 support and 2050.79 resistance.

General direction of the movement: upward.