AMZN: CONGESTION! How to proceed?

• AMZN is in a congestion, as seen in the 1h chart, trading between the black lines as shown above, while the 21 ema is completely flat;
• As long as AMZN remains inside this congestion, hardly we would see something new, however, any breakout could be interesting;
• By losing the support around 90s, AMZN has a target at the gap (red line at $86.82);
• On the other hand, by breaking the resistance around 996S, the next resistance is at $103.78 (previous top);
• Although AMZN seems erratic, these key points might offer us some clues on how to proceed. I’ll keep you updated on this.

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AMZNcongestiongapSupport and ResistancesupportandresistancezonestargetsTrend AnalysisTrend Lines

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