AMZN has retested (and failed so far) to regain the uptrend broken in January. The current bounce is facing resistance in the $3235-$3360 area where the broken trendline (purple), 50wk ma (yellow) and fib retracement lvls reside. As long as it fails to regain above those levels there is potential for a move lower with targets @ $2625 (min), $2222 (opt) and $1570 (extreme).
Trade active:
AMZN has failed twice to regain the broken trendline (purple) and the 50w ma in a textbook case of breaking lower. it had reached the minimun target laid out a couple of months ago withe potential to reach our optimal target in the $2,222 area (currently trades at $2,400).
