Tomorrow is D-day for Amazon. Make or break. Well, I guess it could trade sideways but that's no fun. Anyway, price is meeting very important resistance tomorrow at the upper channel line and the 200 day moving average. Both have proven themselves to be difficult to move through, but with the momentum Amazon found in the afternoon today, I'd say anything is possible. A close above $1700 would be very significant.
Comment:
It looks like we broke above resistance and retested previous resistance, which is now support. I'd bet we move up from here if $AMZN closes above $1701 (200day MA)