$AMZN TOP 20
Added 2025-04-27 17:21:13 +0000 UTC$AMZN tested its Blue resistance line again to end the week, a resistance line that was strong in 2021 and in 2024.
The 50 WMA is just slightly above this level at $197 and we know the $200 was once a strong sell level for Bezos too.
The 0.5 Fib is also at $202 and the 0.618 Fib is at $211.....so we know the bulls have a lot of work to do here
$AMZN will also report their ER on Thursday the 1st of May after the close, so big day for us on Thursday.
$AMZN is likely going to be affected the heaviest by the Cargo Shipping concerns, so guidance and comment on this will be needed on Thursday I believe.
I am vigilant for any rejections at the Wave B levels this week and will trim if I have concerns.
But I will give the price action every chance to continue to fight and get above but most importantly, staying above the 50 WMA.
