Key Takeaways
- Amazon shares are in focus to start the week after plunging Friday as quarterly results from the e-commerce and cloud provider failed to impress investors.
- The stock price fell below the lower trendline of a rising wedge pattern on Friday, potentially laying the groundwork for further earnings-related selling.
- Investors should watch key support levels on Amazon’s chart around $199, $190 and $175, while also monitoring a major overhead area near $233.
Amazon (AMZN) shares are in focus to start the week after plunging Friday as quarterly results from the e-commerce and cloud provider failed to impress investors.
While the company posted growth in its Amazon Web Services business, investors may have expected more after…
