Technical Analysis and Outlook
The Amazon finished lower coming from of Mean Resistance 1789 and progressing to significant Key Support 1567, additional major Key Support 1459.50, as well as outer Stock Dip 1400, while the upside Dead-Cat-Bounce by revisiting Mean Resistance 1789 is not likely. Once the stock extends the descend by closing below initial Key Support, it would extend mid-term bearish sentiment to its fullness.
The Amazon finished lower coming from of Mean Resistance 1789 and progressing to significant Key Support 1567, additional major Key Support 1459.50, as well as outer Stock Dip 1400, while the upside Dead-Cat-Bounce by revisiting Mean Resistance 1789 is not likely. Once the stock extends the descend by closing below initial Key Support, it would extend mid-term bearish sentiment to its fullness.