AMAZON: Potential for strong drop on Resistance from 2020.

TradingView2026/04/30 09:00

By:TradingView

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Amazon is overbought on its 1D technical outlook (RSI = 75.693, MACD = 11.680, ADX = 49.996) following April's impressive rally but is facing a very strong long term Resistance, the HH trendline of August 31st 2020. The 1W RSI is already on a huge LH bearish divergence since early 2024, so that could be the end of the rally for Amazon. In 2022 it hit the 1W MA200 after a -33% drop and it is highly likely now to see the market seek demand there, on the HL trendline (TP = 183.00).

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AMAZON: Potential for strong drop on Resistance from 2020.

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