Today’s instrument is Amazon.com Inc.‘s stock traded on the Nasdaq exchange under the ticker AMZN.
When we look at the AMZN ‘s chart, we can see its fall from the $2975 level on the 22nd of April to the $2900 on the 26th of April and further down in the $2800, finding support at the $2750 level. During yesterday’s session, it opened with a gap up and continue to rise intraday, closing the day strongly in the $2887 range where it was last found trading, having closest temporary support at the $2750 and overhead resistance at the $2975 range.
Amazon.com Inc. had scheduled a quarterly earnings announcement yesterday 28/04/2022, in an after-hours session. It missed both EPS and Revenue expectations so we could expect the price to move substantially downwards, towards the $2600.
Today we can expect a move well below the $2750 closest support level, possibly in the $2620 range.
If however, it manages to hold on to the current level then a move towards and below the $2975 closest resistance level can be expected.
(Click on image to enlarge)
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