By Andrew Nyquist
Amazon is battling to stay above very important support levels; 184 (near term) and 176 (long term). The risk/reward is pretty good (with a tight stop), but watch these levels closely. A close back above the .236 fibonacci retracement level would be a good sign. Note as well that although individual stocks are separating themselves from market performance, the Nasdaq is running pretty hot and any pullback may be a headwind for Amazon stock price.
Update from previous chartology on Amazon.
**Other technical stock charts found here. Note: Tagged and searchable under “chartology.”
Amazon (AMZN) annotated daily and weekly stock charts with technical analysis overlay February 15, 2012. Price Support and Resistance with Trendlines.
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