Chartology: Amazon (AMZN)

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.

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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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No positions in any of the securities mentioned at time of publication.

Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of his employer or any other person or entity.