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Technical Analysis: Amazon.com Bounced After Earnings. Now What?
David Russell
February 8, 2022
Consumer | Stocks | Technical Analysis | Technology

Amazon.com rallied sharply on some bullish news last week. But it may face some bearish patterns over the intermediate and longer terms.

First, consider the level around $3,175. AMZN bounced there in the second, third and fourth quarters of last year before breaking it this quarter. That could make some traders think it will become resistance.

Next is the trendline running along …

For more, please click here to view the related idea and chart analysis on TradingView.

Amazon.com (AMZN), daily chart with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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