AMZN - levels for 1/21/20
On my previous watchlist I was looking for AMZN to pull back but then pick up some momentum, I had the pullback part right, of the two price points I mentioned $1866.01 and 1853.66, we pulled back deep to 1853.66 area.
I'm still bullish on the daily timeframe and find this area to be decent risk reward if we catch a bid here at $1854 area. Look at the chart history price has turned around multiple times at this price in recent history.
[resistance levels]
Watching 1866.54, 1874.47, 1885.59 and 1894.31.
[support levels]
If we lose this support level we can easily find our way to 1847.44-1842 levels. After that I'm watching 1832.23 which is my last stop for my bullish sentiment. We start closing below that and we can see a major drop.
I'm still bullish on the daily timeframe and find this area to be decent risk reward if we catch a bid here at $1854 area. Look at the chart history price has turned around multiple times at this price in recent history.
[resistance levels]
Watching 1866.54, 1874.47, 1885.59 and 1894.31.
[support levels]
If we lose this support level we can easily find our way to 1847.44-1842 levels. After that I'm watching 1832.23 which is my last stop for my bullish sentiment. We start closing below that and we can see a major drop.
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