Sep. 6 at 6:01 PM
$AMZN Technical Review 👇
Price is coiling into the apex of this descending wedge at
$258.51. Volatility is compressing tightly, and an expansion move is getting close. Here is how I am mapping out both sides of the trade:
🐂 The Bull Case: Trendline Squeeze & EMA Support
Compression: Price is holding above key short-term dynamic support, sitting right at the 8 EMA (
$258.77) and riding above the 50 EMA (
$256.25).
Trigger: A high-volume breakout through upper trendline resistance (~
$260–
$262) opens up momentum back toward the
$270–
$275 zone, with the 52-week high sitting up at
$287.20.
Target: If
$AMZN loses the 50 EMA (
$256.25), I expect a slip into that lower zone to cover the gap. My primary demand level for a high-probability bounce sits right at the 200 EMA (
$242.39).
