Amazon stock analysis 27.11.2020

The stock of Amazon (AMAZON) rose in its recent trading at the intraday levels, to try to drain some of its obvious selling saturation with the relative strength indicators, especially with the emergence of a positive crossover in it, to achieve gains in its last session by 0.07%, equivalent to 2.25 points, to settle at 3,131.06 Dollar, in light of the continuation of negative pressure in its trades below the simple moving average for the previous 50-day period, affected by the breach of a major rising trend line earlier, as shown in the attached chart.

Therefore, we expect the stock to return to its decline during its upcoming trading, throughout the stability of the resistance 3,170.17, targeting the pivotal support 2,887.75.

The expected direction for the stock's upcoming trades: A decrease in probability