Could Amazon (AMZN Stock) move to its 52-week low?
|Today’s instrument is the Amazon.com‘s stock traded in Nasdaq exchange under the ticker AMZN.
Looking at the AMZN‘s chart, we can see that it has been in a downtrend reaching the 52W low at $82.25 and it was lastly traded at around $85.25.
Today, if it holds above the support level of $84.50, we should expect it to upwardly react towards its soft resistance level at around $87 and if it manages to break through it, then it could approach its next resistance level at around $92.50.
On the other hand, it could be possible for it to reach a new 52W low.
Risk Warning for Intraday Technical Analysis: Trading is risky. Information presented herein, is not to be constructed as a solicitation or an offer to buy or sell any Financial Instrument or to participate in any particular trading strategy. Amazon.com inc. logo and any associated brand names are Amazon.com inc. trademarks. All other trademarks are property of their respective owners.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.