UnknownUnicorn2538164

Amazon end-of-week analysis

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NASDAQ:AMZN   Amazon.com
Well, Amazon sellers waisted no time in stepping in today, along with the broader markets. My impression is that today was about positioning for a retracement higher next week, before a large downside extension, possibly later in the month. Notice how AMZN closed at nearly exactly the 50% retracement from the weekly high and low. If AMZN retraces higher, we may see upward resistance starting at about 1525 sometime next week. Cheers!
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