Amazon.com Inc (AMZN) “On a long-term technical basis, the stock (AMZN) is trading below its 200-day moving average which implies it is in a negative trend. However, the stock has broken through an important trendline at 1891.11 suggesting the next level of support is 1798.85. The long-term uptrend has now turned neutral.

The stock has support at 1798.85 and 1695.00. If the stock breaks down through support at 1798.85 then it will probably continue lower to 1695.00. The stock will meet resistance at 1802.17 and 1935.20. If the stock breaks up through resistance at 1802.17 then it will probably continue higher to 1935.20. The 200-day moving average is at 1802.17. This will also act as resistance. If the stock closes below 1753.26 a negative trend change is probable. Look for the stock to fall to the level where it started prior to the latest big upmove. The stock is extremely overbought according to the Stochastic Indicator (84.04).”