Chart of the Day: Is it Prime Time for Amazon.com?

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Amazon.com has retraced almost all of its pandemic gains. Is this an opportunity for buyers? Let’s consider some chart patterns.

First is the $101.79 level (split adjusted). It was a peak in July 2019 and a breakout area immediately before the coronavirus selloff in early 2020. AMZN probed that zone in late May and again in mid-June, each time managing to rebound above it. Has the old resistance been established as new support?

Second …

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Amazon.com (AMZN), daily chart with selected patterns and indicators, courtesy of TradingView.
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