Thursday, April 1, 2021 3:30 PM EDT
Shares of Amazon.com Inc (AMZN) continue to trade in a range or wedge pattern. The Amazon.com technical analysis is clear-cut. Expect choppy trade until the change is broken, either to the upside or the downside. Whichever direction it is, look for a major move, north of 20%.
The support low of the wedge button is flat at $2,900. The resistance upper trend line of the wedge currently sits at $3,365. That level will slowly decline as it is a down-sloping trend line. Should a breakout above that level occur, Amazon.com could likely see a move to $4,000/share. On the downside, should Amazon.com break below the flat bottom of $2,900, it would likely fall quickly to $2,055/share.
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Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as ...
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Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. InTheMoneyStocks, LLC and its representatives assume no responsibility for your trading and investment results. All information on the website was obtained from sources believed to be reliable., but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. InTheMoneyStocks, LLC, its employees, representatives and affiliated individuals may have a position or effect transactions in the securities herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves a very high degree of risk. Futures and Options trading are not suitable for all investors. Past results are not indicative of future results. InTheMoneyStocks, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment results.
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