Amazon.com intraday: look for a drop towards 3060 before a bounce

Trading Central 2020-11-19 04:42:04

Our pivot point stands at 3060.

Our preference: look for a drop towards 3060 before a bounce.

Alternative scenario: below 3060, expect 2986.75 and 2943.

Comment: the RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Amazon.com is trading above both its 20 and 50 period MA (respectively at 3133.11 and 3127.6).

Supports and resistances:

3359.5 **

3315.5 *

3271.5 **

3227.5

3137.85 last

3088.75

3060 **

Disclaimer
The trading strategy containing reference trading prices and analysis opinions is provided by the third-party provider Trading Central.And the trading strategy is only the personal research and judgment by analysts,which is not a statement of facts.No representation or warranty is given as to the accuracy or completeness of this strategy. Consequently any person acting on it does so entirely at their own risk. TOP1 accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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