Amazon posted its earnings results for the March quarter on April 27th, less that 2 weeks after our “Where Is Amazon Heading?” post. Curious, we return to check how AMZN is doing.
On the weekly chart, Amazon’s stock has not yet cleared the resistance area:
The moving average support and resistance lines plotted on the chart are the same ones the stock best respected on April 16th, the date of the previous post. Although AMZN broke them, it immediately came back to trade below them.
On the daily view – same thing:
AMZN is still hanging between support and resistance. No conviction in the recent price action to any direction.
At least, not yet.