Amazon Wave Analysis – 20 May 2026

Amazon: ⬆️ Buy

– Amazon reversed from support zone

– Likely to rise to resistance level 276.00

Amazon recently reversed up from the support zone between the pivotal support level 257.00 (former multi-month high from October) and the lower daily Bollinger Band.

This support zone was further strengthened by the 38.2% Fibonacci correction of the upward impulse from the start of April.

Given the clear daily uptrend, Amazon can be expected to rise to the next resistance level 276.00 (top of the previous impulse wave 3).