Today’s instrument is Amazon.com‘s stock traded on the Nasdaq exchange under the ticker AMZN.

Looking at AMZN ‘s chart, we can see that it has been in a downward trend reaching the support level of around $111 and then reacting to the current level of around $115.77. Today we could expect it to test its resistance level at around $118.50 and if able to pass it then it should further rise otherwise it would retreat towards its support level of around $111.

(Click on image to enlarge)

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