Overview:
Amazon (NASDAQ: AMZN) appears to be forming a Head and Shoulders pattern, which is often a bearish reversal indicator. The left shoulder, head, and right shoulder are clearly defined, with the neckline situated near the $180-$176 zone. If the price breaks below this area, it could signal a larger move downward.
Technical Setup:
Pattern: Head and Shoulders
Neckline Support: ~$180 - $176 (critical support area)
Trendline: Red ascending trendline, currently serving as additional support
Target Zone: Potential drop toward $168 or lower if the pattern confirms
Price Action:
The recent pullback from the right shoulder aligns with the overall pattern, and a daily close below $176 could confirm the reversal.
Watch for a bounce off the neckline for a potential short-term trade; otherwise, a breakdown could lead to a deeper correction.
Risk Management:
A sustained move above the right shoulder (~$190) would invalidate the bearish setup and suggest a continuation of the uptrend.
Catalysts:
Upcoming earnings and market sentiment around consumer spending could influence the stock’s direction, potentially acting as a catalyst for the breakdown or reversal.
Amazon (NASDAQ: AMZN) appears to be forming a Head and Shoulders pattern, which is often a bearish reversal indicator. The left shoulder, head, and right shoulder are clearly defined, with the neckline situated near the $180-$176 zone. If the price breaks below this area, it could signal a larger move downward.
Technical Setup:
Pattern: Head and Shoulders
Neckline Support: ~$180 - $176 (critical support area)
Trendline: Red ascending trendline, currently serving as additional support
Target Zone: Potential drop toward $168 or lower if the pattern confirms
Price Action:
The recent pullback from the right shoulder aligns with the overall pattern, and a daily close below $176 could confirm the reversal.
Watch for a bounce off the neckline for a potential short-term trade; otherwise, a breakdown could lead to a deeper correction.
Risk Management:
A sustained move above the right shoulder (~$190) would invalidate the bearish setup and suggest a continuation of the uptrend.
Catalysts:
Upcoming earnings and market sentiment around consumer spending could influence the stock’s direction, potentially acting as a catalyst for the breakdown or reversal.
Dagangan ditutup: hentian tercapai
invalidated, market bullish no catalyst 
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.