Stock Of The Day: Amazon Chart Shows Some Things Are Obvious
Portfolio Pulse from Mark Putrino
The article discusses the significance of the $180 price level for Amazon (NASDAQ:AMZN) stock, highlighting how it has acted as both a support and resistance level due to market dynamics like seller's and buyer's remorse.
October 25, 2024 | 8:27 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Amazon's stock has shown significant price action around the $180 level, acting as both support and resistance. This level is crucial for traders due to market dynamics like seller's and buyer's remorse.
The $180 level for Amazon has been a significant point of reversal, acting as both support and resistance. This is due to market behaviors such as seller's and buyer's remorse, where traders place buy or sell orders at this level based on past price actions. The article highlights this dynamic, making it a critical level for short-term traders to watch.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100