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CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs and spread bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Asset Watch
Tuesday, July 19, 2022, 10:05am GMT
Source: TradingView
However, the e-commerce giant confronts a technical environment that makes the next few sessions extremely critical. Amazon’s rising support line (which is now resistance) drawn from the 2016 lows has stopped the last two rally attempts and culminated with Amazon re-testing its lows near $102.09. Additionally, the level is also near the September and October 2018, and July 2019 highs.
With a $117 line in the sand, there is roughly a 3% upside before Amazon faces its third test. If the bulls prevail, next-level resistance is present near $123.91. But a rejection puts $102.09 in play once again.
So, will Amazon’s next $10 move be higher or lower?
Source:
https://www.chainstoreage.com/average-prime-day-orders-18-last-year
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CFDs and Spreadbets are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of Retail investor accounts lose money when trading CFDs and Spread Bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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