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Trend-Continuation Opportunity on AMZN Ahead of Earnings

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Amazon is set to report quarterly earnings on Thursday after the market close. The EPS data could catalyse another bullish upswing into uncharted territory, given the recent behaviour of the price action.

The price action is currently attempting to consolidate above the major resistance-turned-support level at 3562.78.

The latter's prominence also stems from the fact that it underpins the 23.6 per cent Fibonacci retracement level from the last upswing, which was commenced in the form of a Pennant.

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