Like many other technology companies, Amazon's earnings disappointed a lot of analysts who were expecting a rosier outcome.
The stock that fell after hours the earnings report, has been trying to recover much of last week.
In the last week, the stock has trended up and is showing signs of a continued momentum in the coming week. Both MACD indicator as well as MFI are indicating low to severe under bought territory indicating that stock will trend higher.
My estimate is that stock will encounter resistance at 305.50 (closing price on Friday) or even at 310-315 before trending down.
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