AMAZON: WEEKLY SCENARIO – 15 February 2022

Technical Analysis

AMAZON Technical Analysis: Weekly Chart

AMAZON Technical Analysis

In the weekly charts, AMAZON is trading in the down channel.

It is trading below all SMA.

The immediate support is 3017.43 & the resistance level is at 3173.35.

AMAZON is trading in the down-channel until there is a trend reversal

AMAZON Technical Analysis: Daily Chart

AMAZON Technical Analysis

In the daily charts, AMAZON is trading in a down channel.

It is trading above 20 days SMA & below 50 and 100 days SMA.

The immediate support is 3029.36 & the resistance level is 3150.16.

AMAZON is trading in the down-channel until there is a trend reversal.  

How to Trade AMAZON this Week:

AMAZON will follow the downtrend until their trend reversal. So, remain bearish on AMAZON

TRADE SUGGESTION- SELL AT 3099.08, TAKE PROFIT AT 3029.36 AND STOP-LOSS AT 3150.16

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