On my previous watchlist I was looking for AMZN to pull back but then pick up some momentum, I had the pullback part right, of the two price points I mentioned $1866.01 and 1853.66, we pulled back deep to 1853.66 area.
I'm still bullish on the daily timeframe and find this area to be decent risk reward if we catch a bid here at $1854 area. Look at the chart history price has turned around multiple times at this price in recent history.
[resistance levels] Watching 1866.54, 1874.47, 1885.59 and 1894.31.
[support levels] If we lose this support level we can easily find our way to 1847.44-1842 levels. After that I'm watching 1832.23 which is my last stop for my bullish sentiment. We start closing below that and we can see a major drop.
I think it will cross $1900, but, I also noticed it hardly goes up two consecutive days in a row looking back the past 6 mos. But, I believe we are headed to $2000 before ER. It will be interesting to see how much it is gonna move tomorrow.
danbeaulieu
⋅
@nucrph, Yeah, once we show some strength over $1901 level, I'll be in for a swing towards $1950+
danbeaulieu
⋅
Looks like my "support" and "resistance" headers didn't render. :/