Amazon Analysis 25.01.2019

Amazon is trying to rebound after the decline in the last three sessions as the stock approached the 1591.40 support level and rebounded.

The moving averages were 50-20 support for the price at the mentioned level.

We see a positive cross between the two averages which is a positive sign for the rise and an attempt to test the resistance level 1679.05 and break it.

The Stochastic is providing different information as it moves in a descending path. Therefore, we should wait until next week to get clear signals of price action

The expected movement between support is 1.591.40 and resistance is 1765.54

Support and resistance:

Support: 1591.40-1481.85

Resistance: 1679.05-1765.54

The general direction of the movement: neutral with a tendency to rise