AMZN

Daily price is located above 200 SMA in the bullish area of the chart. The Stochastic oscillator is showing the uptrend to be started by crossing the 50 level to above, and the price is trying to break the resistance level at 256.48 together with 55 SMA to above for the strong bullish trend to be continuing. If the price breaks resistance at 256.48 together with 55 SMA to above so the primary bullish market condition will be continuing for daily price. If the price crosses support level at 238.25 together with 200 SMA to below so the primary bearish reversal will be started. Alternatively, the price will be on secondary ranging above 200 SMA to be inside s/r levels waiting for direction of the strong trend tioo be started. Trading Summary : bullish ranging for direction.

Daily price is located near and inside Ichimoku cloud for trying to break the support level at 233.59 to below for the primary bearish reversal to be started. Chinkou Span line of Ichimoku indicator broke the historical price to below for the strong breakdown to be started for the possible bearish reversal of the daily price movement. If the price crosses the 233.59 support ot below so we may see the primary bearish reversal with 196.00 as a possible target. If the price breaks the resistance at 256.54 to above so the primary bullish trend will be resumed with 278.56 target to re-enter, Alternatively, the price will be on secondary ranging to be inside and near the Ichimoku cloud waiting for direction. Trading Summary : breakdown with the possible bearish reversal