Amazon Wave Analysis – 13 December, 2022

• Amazon reversed from support level 87.70

• Likely to rise to resistance level 95.00

Amazon earlier reversed up from the pivotal support level 87.70 (which has been reversing the price from the start of November), intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 87.70 stopped the earlier short-term impulse wave 3, which belongs to wave (C) from August.

Amazon can be expected to rise further toward the next resistance level 95.00 (which stopped wave (ii) at the end of November).