FX.co ★ Technical analysis of Amazon for May 2, 2022

Amazon took a deep dive after poor Q1 results last week and is close to tap the expected point 13 in Livermore's Accumulation model near 2,351. This will likely be able to pause the corrective decline temporarily, but it should only be a matter of time before Amazon starts to point lower again towards point 14 near 1,911 and maybe even closer to 1,470 if things really get going.

So continue to look for a test of point 13 near 2,351 soon, but it should be able to provide a temporary setback before renewed downside pressure is expected.