Amazon confirmed two new coronavirus cases in its U.S. delivery infrastructure, but decided not to close affected facilities - in Michigan and Oklahoma - as the company has to cope with increased demand. This came after a group of U.S. senators expressed their concerns to Jeff Bezos, Chief Executive Officer, about Amazon's security processes related to coronavirus proliferation within its ranks - and possibly among its customers.
Amazon, H4
Pivot: 1915.00
Analysis:
Provided that the asset is traded above 1870.50, follow the recommendations below:
The timeframe: H4
Recommendation: long position
Entry point: 1915.00
Take Profit 1: 1975.00
Take Profit 2: 2032.50
Alternative scenario:
In case of breakdown of the level 1870.50, follow the recommendations below:
The timeframe: H4
Recommendation: short position
Entry point: 1870.50
Take Profit 1: 1810.50
Take Profit 2: 1740.00
Comment:
RSI shows the upward trend development during the day. The asset came out of the descending channel.
Key levels:
Resistance
Support
2085.00
1870.50
2032.50
1810.50
1975.00
1740.00
Amazon, D1
Pivot: 1901.50
Analysis:
While the asset is traded above 1827.56, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 1901.50
Take Profit 1: 2125.00
Take Profit 2: 2198.00
Alternative scenario:
If the level 1827.56 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: short position
Entry point: 1827.56
Take Profit 1: 1729.00
Take Profit 2: 1660.00
Comment:
The shares of the company Amazon remain a bullish trend. RSI shows steady growth.
Key levels:
Resistance
Support
2281.00
1827.56
2198.00
1729.00
2125.00
1660.00
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