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Amazon.com $AMZN Trading Report
Long Term Trading Plans for AMZN
January 9, 2020, 11:30 pm ET
The Technical Summary and Trading Plans for AMZN help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this AMZN Report.
AMZN - (Long) Support Plan
The technical summary data tells us to buy AMZN near 1866.32 with an upside target of 1975.71. This data also tells us to set a stop loss @ 1866.06 to protect against excessive loss in case the stock begins to move against the trade. 1866.32 is the first level of support below 1901.05 , and by rule, any test of support is a buy signal. In this case, support 1866.32 is being tested, a buy signal would exist.
AMZN - (Short) Resistance Plan
The technical summary data is suggesting a short of AMZN as it gets near 1975.71 with a downside target of 1866.32. We should have a stop loss in place at 1975.97 though. 1975.71 is the first level of resistance above 1901.05, and by rule, any test of resistance is a short signal. In this case, if resistance 1975.71 is being tested, a short signal would exist.