Interesting night last night... pre-market isn't compelling in either direction so I'm not going to try to predict direction. To my eyes, both AMZN and the market could go either way. I will note that we are trading a lot of volume at this price, which would great a good support level for bulls if we can hold above that $1901.82 area.
resistance levels
Yesterdays high at 1913.89 is the first level to take out. $1917.51 is a level that personally have my eye on as a more important resistance level based on historic price action. 1925.56 minor resistance, and then 1942.00 another level I'm watching closely.
support levels
We've got a few minor levels just below us if we decide to pullback. I've brightened up the levels that I'm watching closely. Notice we also have some fib confluence on some fo these levels for this swing low/high. Watching 1894.89 area closely as the volume at price for that level is the point of control over the past 10 or so days. Fib .382 retracement has some price history, minor. Watching the 50% retracement which has had some price respect but not a lot of volume at price. Next level down is 1876.50 area, decent volume at price and previous respected level. Finally, last nights bottom near 1853.66 has seen respect.
Those are the levels I'm watching. If we can catch a bid above $1901.82 level I think AMZN has some real upside potential due to limited overhead resistance.
resistance levels
Yesterdays high at 1913.89 is the first level to take out. $1917.51 is a level that personally have my eye on as a more important resistance level based on historic price action. 1925.56 minor resistance, and then 1942.00 another level I'm watching closely.
support levels
We've got a few minor levels just below us if we decide to pullback. I've brightened up the levels that I'm watching closely. Notice we also have some fib confluence on some fo these levels for this swing low/high. Watching 1894.89 area closely as the volume at price for that level is the point of control over the past 10 or so days. Fib .382 retracement has some price history, minor. Watching the 50% retracement which has had some price respect but not a lot of volume at price. Next level down is 1876.50 area, decent volume at price and previous respected level. Finally, last nights bottom near 1853.66 has seen respect.
Those are the levels I'm watching. If we can catch a bid above $1901.82 level I think AMZN has some real upside potential due to limited overhead resistance.
rejected at $1917.51