Amazon Stock Could Move Below $2750

By Stock MarketsApr 29, 2022 05:43AM ET

www.investing.com/analysis/amazon-stock-could-move-below-2750-200623172

Amazon Stock Could Move Below $2750

By | Apr 29, 2022 05:43AM ET

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When we look at Amazon's (NASDAQ:AMZN) chart, we can see its fall from the $2975 level on Apr. 22 to the $2900 on Apr. 26 and further down in the $2800, finding support at the $2750 level.

During yesterday’s session, it opened with a gap up and continue to rise intraday, closing the day strongly in the $2887 range where it was last found trading, having closest temporary support at the $2750 and overhead resistance at the $2975 range.

Amazon had scheduled a quarterly earnings announcement yesterday, in an after-hours session. It missed both EPS and Revenue expectations so we could expect the price to move substantially downwards, towards the $2600.

Today we can expect a move well below the $2750 closest support level, possibly in the $2620 range. If however, it manages to hold on to the current level then a move towards and below the $2975 closest resistance level can be expected.

Amazon price chart.

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Renno Kullerkupp Apr 30, 2022 1:19AM ET

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Amazon Stock Could Move Below $2750

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