Amazon.com intraday: the downside prevails as long

Amazon.com intraday: the downside prevails as long as 3203.75 is resistance

AMZN

Trading Central 2021-02-23 05:00:15

Our pivot point is at 3203.75.

Our preference: the downside prevails as long as 3203.75 is resistance.

Alternative scenario: above 3203.75, look for 3219.75 and 3229.5.

Comment: the RSI is below 30. It could either mean that prices are in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Amazon.com is trading under both its 20 and 50 period moving average (respectively at 3222.47 and 3276.82).

Supports and resistances:

3229.5 **

3219.75 *

3203.75 **

3197.5

3185.73 last

3161

3151.25 **

Disclaimer

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