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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 is in an uptrend, which is supported by the overall performance of the tech giants.

It was lastly traded at around $109.80 and after the market closed it reported outstanding quarterly earnings, which initially boosted the share price above the level of $120 but then it declined below $108 due to the concerns of the AWS outlook. 

Today, we expect that this drop will be limited between the two support levels of $104 and $106 but eventually, it will react upwardly with the possibility to rise above the level of $110.

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