Will AMZN fill the gap at $194 or hold higher?
$Amazon.com(AMZN)$ has a tendency to fill its gaps, and while it has been bouncing since Tuesday, the last two daily candles suggest indecision and a potential rejection at the 20 DMA.
The bullish crossover in the oscillator is encouraging, but it does not guarantee a straight move up to overbought levels, as shown by previous premature bearish reversals (red ovals). Therefore, all eyes are on two key areas:
➡️A recovery above the 20DMA is needed to consider any bullish continuation.
➡️A break below the key level of $222.50 would open the door to retest recent lows.
For now, a move to fill the lower gap at $194 seems unlikely.
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