Watch These Amazon Stock Price Levels After Company Issues Soft Outlook
Key Takeaways
- Amazon shares wavered between losses and gains Friday after the e-commerce and cloud computing giant issued a cautious outlook amid uncertainty about the economy
- Since bottoming out last month, Amazon shares have consolidated within a rising wedge. More recently, the price has rallied toward the wedge’s top trendline and 50-day moving average, a move that has coincided with the relative strength index crossing back into bullish territory.
- Investors should monitor key support levels on Amazon’s chart around $170 and $152, while also watching important resistance levels near $199 and $216.
Amazon (AMZN) wavered between gains and losses Friday after the e-commerce and cloud computing giant issued a cautious outlook amid…
