It is no secret that Amazon (AMZN) has been trading down since the beginning of last year.
If you are curious to learn about the moving average resistance lines it best respects, which it would need to break in order to begin a reversal to the upside, check out the below weekly and daily charts:
The weekly chart shows that AMZN best respects its 40-week SMA (body) and 47-week SMA (wick) resistance lines. A reversal back up would have to begin with breaking those lines.
On the shorter time frame chart – the daily – AMZN shows respect to the 204-day SMA (body) and the 216-day SMA (wick) resistance lines:
The 4 resistance lines from the 2 time frames are grouped around the same range of $110-114.
AMZN is on a downtrend and may reach a new low, however, keep your eyes on these resistance lines as a sign of strength and a potential reversal.