Amazon Wave Analysis – 2 November 2026

Amazon: ⬆️ Buy

– Amazon reversed from support zone

– Likely to rise to resistance level 244.50

Amazon recently reversed up from the support zone between the strong support level 227.50 (which stopped wave (4) at the end of June and wave B at the end of July), the support trendline of the daily down channel from August and the 61.8% Fibonacci correction of the upward impulse from the middle of February.

The upward reversal from this support zone stopped the active short-term impulse wave iii from the middle of October.

Given the strength of the aforementioned support zone, Amazon can be expected to rise further toward the next resistance level 244.50 – former support, which stopped waves i and (b) in September.