Amazon -> Bullish Scenario Playing Out

13 בפבר׳ 2023

Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .

From a weekly perspective Amazon recently tested a quite obvious previous weekly support area from which we started a quite nice rally towards the upside.
Considering the fact that Amazon also broke above a key weekly downtrend-line, I think that we have some more overall upside potential.

From a daily timeframe we are currently retesting previous resistance which is now turned strong support, so if we see some more bullish confirmation inside of this zone, there is a high chance that we will actually see the continuation towards the upside.

Thank you for watching and I will see you tomorrow!

You can also check out my previous analysis of this asset:
https://www.tradingview.com/chart/AMZN/xfgj4DOd-Amazon-Analysis-10-01-2023/