AMAZON: Testing COVID Crash Lows... What next?

Here we are looking at AMZN on the daily TF.

As marked on the charts, we are currently testing the lows made during the COVID crash back in 2020.

While we can’t rule out a breakdown through this current support (bottom green line), we are expecting a technical bounce in the short term off this level.

If AMZN does bounce, we will look for it to move towards resistance (top green line), which has acted as strong resistance in the past (2019-2020).

What do you think will happen? Let me know in the comments!

Cheers!