Technical Analysis of Amazon ( $Amazon (AMZN.US)$ , 1W Chart)
– Equidistant Channel Support: The stock remains within an upward equidistant channel and is currently testing the lower boundary as support. The lower boundary at around 192.50 is a significant support level.
– Pullback from Recent Highs: After reaching a peak above $240, AMZN has corrected but is still maintaining its long-term uptrend.
– Key Moving Averages: The price is interact...

Amazon ( $Amazon (AMZN.US)$ ) Technical Analysis
Key Observations:
1. Previous All-Time High as Support: The green horizontal line $187 marks a previous all-time high, which could act as a strong support during this correction. Price is currently pulling back after reaching the upper boundary of the equidistant channel.
2. Equidistant Channel Structure: The stock appears to be moving within an equidistant channel, respecting both the upper and ...

I like to trade on retracement - a concept of buying low but only when this dip is part of an uptrend.
In this article, I wrote about key levels to note if   $Amazon (AMZN.US)$ dipped after breaking to a new high.
In this case, I have identified two potential support levels for a re-entry: $189, $201. If the price retraces to these levels and holds, it may offer a favorable re-entry opportunity for traders looking to capitali...

Earlier in my article, I mentioned my bullish outlook on $Amazon.com CDR (CAD Hedged) (AMZN.CA)$ due to a suspected cup and handle pattern. Now, with the price breaking out, the cup and handle pattern has officially been completed.
Based on the current chart pattern—a cup and handle, which is a bullish continuation pattern—I believe the price is likely to rise.
How high can the stock price go with the cup and handle pattern?
First, let’s t...

I've been watching $Amazon (AMZN.US)$ recently as prices have been hovering near the $190 level.
First, let's discuss why $190 is such an important level.
Weekly chart
From 2021 to 2024, $190 has acted as a key resistance level. Between late 2021 and 2022, the price fell nearly 55% from this high.
Daily Chart
$Amazon (AMZN.US)$ previous earnings on Aug 2024 saw price gapped down but soon recovered to test the $190 level again!
With ...