AMZN - 3 month hourly rising channel stronger than the bears

For now at least; everything can change in the blink of an eye, and with earnings looming, it's anybody's guess in which direction the next 300+ bucks move will be in AMZN . I can only point out how this bounce off channel support is about to collide with falling resistance, and if that gives way, price will accelerate to the upside. If you switch the chart to the daily (NOT shown), you'll se how AMZN is perfectly bouncing off the 20 sma , not exactly bearish , to say the least. Valuation and sentiment can get to whatever extreme; until short term supports are broken, the path of least resistance is UP.

Full disclosure: long AMZN at 7% of total assets.