Amazon.com Inc. was trading flat on Tuesday after attempting a bullish break immediately after the market opened. The stock has been struggling with heavy psychological and price history resistance at the $3,600 level on multiple occasions after filling a gap between $3,549.99 and $3,580.01 on Nov. 8. The stock has been pressured by the general markets, which have been shaky due to the monthly expiry of the Volatility S&P 500 Index approaching on Wednesday and the monthly options expiration for November coming up on Friday, which will cause institutions to have to decide how to roll out their positions. December often brings with it a “Santa Clause rally” in the stock markets, which is a typically bullish month. If Amazon can hold strong through the remainder of the week, it could be set to bust up through resistance and soar. The Amazon Chart On Monday, Amazon lost the strong uptrend …
Why Amazon’s Stock Could Soar If This Key Pattern Breaks: A Technical Analysis
November 17, 2021
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