Watch This Amazon Support Level

By | December 16, 2014

Amazon (AMZN) shares are down 4% this week and headed towards their October lows. The price action this year has formed a declining triangle, with pattern support at the 50% retracement level of the 2012 /2014 range. This reinforced level of support could see at a minimum a bounce, but a breakdown projects a significantly lower price target.

46. amznchart

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