Technical analysis

Amazon Wave Analysis – 23 June 2023

– Amazon broke resistance level 127.30

– Likely to rise to resistance level 135.00

Amazon continues to rise steadily after the price broke above the key resistance level 127.30, which has been reversing the price from the start of this month.

The breakout of the resistance level 127.30 accelerated active short-term impulse wave (iii) – which belongs to the higher order impulse waves 5 and (C).

Given the clear daily uptrend, Amazon can be expected to rise further toward the next resistance level 135.00 (target for the completion of the active impulse wave (iii)).

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