Quick Charting the Amazon AMZN Support Bounce

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Amazon.com (AMZN) shares found support into a key target level and now we’re charting a rally up after the recent sharp sell-off event.Let’s zoom-in on the support level, update the daily chart, and plan the short-term levels to watch for now:The key inflection support level for Amazon (AMZN) shares is the $345 level.  It’s the 50% Fibonacci (half-way retracement) and a historical reversal point from November and earlier in February.The last few sessions saw an upward impulse away from this level toward the underside of the 20 and 50 day EMAs.We can see recent updates “Updating Amazon into Fibonacci Support” and “Swing Trade Planning for Amazon.”While we focus on the $345 level and how far the bounce higher can …


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