Today’s Chart of the Day was shared by @J4_doji. It's a chart of Amazon over the past two years ($AMZN). Amazon is currently at a make-or-break level, around $3,500. The stock peaked last September and has been rangebound ever since. Keep in mind this is the third-largest stock in the S&P 500 and the largest stock in the Consumer Discretionary sector. $3,500 has been a brick wall of resistance. Price has tested and failed at that level three times. Will the fourth time be the charm? If so, it has built a solid 10-month base to launch from.
Chart of the Day - Thursday, June 24th, 2021
June 24, 2021
