Technical analysis

Amazon Wave Analysis 7 April, 2021

Amazon Wave Analysis 7 April, 2021

• Amazon broke resistance level 3155.00

• Likely to rise to resistance level 3325.00

Amazon recently broke the resistance level 3155.00 (which has been reversing the price from the end of January), intersecting with the 50% Fibonacci correction of the downward ABC wave (2) from February.

The breakout of the resistance level 3155.00 accelerated the active minor upward impulse wave 3.

Amazon is likely to rise further toward the next resistance level 3325.00 (top of the B-wave of the previous ABC wave (2) from the start of February).

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