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Amazon.com $AMZN Technical Update

June 02, 2021, 09:02 am ET, BY Gy Bennar - Contributor | Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

The Amazon.com (NASDAQ: AMZN) update and the technical summary table below can help you manage risk and optimize returns. Here we provide day, swing, and longer-term trading plans for AMZN, and we cover 1000 other stocks too. This is a snapshot, it was real-time when the report was published, but prices change and so do support and resistance levels. Update this report, and get unlimited real time reports here: Free Trial.

Technical Summary

Term →	Near	Mid	Long
Rating	Strong	Weak	Strong
P1	0	0	3128.41
P2	3209.25	3215.80	3370.26
P3	3239.96	3270.85	3641.36

⚠Triggers may have already come

Support and Resistance Plot Chart for AMZN

Long Term Trading Plans for AMZN

June 2, 2021, 9:02 am ET

The Technical Summary and Trading Plans for AMZN help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this AMZN Report.

AMZN - (Long) Support Plan

The technical summary data tells us to buy AMZN near 3128.41 with an upside target of 3370.26. This data also tells us to set a stop loss @ 3119.38 to protect against excessive loss in case the stock begins to move against the trade. 3128.41 is the first level of support below 3218.65 , and by rule, any test of support is a buy signal. In this case, support 3128.41 would be being tested, so a buy signal would exist.

AMZN - (Short) Resistance Plan

The technical summary data is suggesting a short of AMZN as it gets near 3370.26 with a downside target of 3128.41. We should have a stop loss in place at 3379.99 though. 3370.26 is the first level of resistance above 3218.65, and by rule, any test of resistance is a short signal. In this case, if resistance 3370.26 is being tested, so a short signal would exist.