Amazon Wave Analysis – 14 September, 2020

• Amazon reversed from support level 3080.00

• Likely to rise to 3300.00

Amazon earlier reversed up from the support level 3080.00 (former monthly low from August) – intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from June.

The upward reversal from the support level 3080.00 started the active shot-term impulse wave 3

Amazon is likely to rise further toward the next round resistance level 3300.00 (target price for the termination of the active sub-impulse wave (i)).