Pullback Risk Rising for AMZN at $238.38
Shares of Amazon.com Inc (AMZN) rose 2.03% to $238.38 on April 11.
Technical indicators paint a bullish picture:
Moving Averages
Price trades above the 9-day EMA ($220.80) with a bullish stack. The 21-day EMA at $215.27 provides support.
Momentum
RSI at 71.4 is in overbought territory, suggesting potential near-term exhaustion. MACD reads 3.62 against its 0.07 signal line (bullish).
Volatility
Price is extended above the upper Bollinger Band ($230.59), suggesting possible mean reversion.
While the trend remains bullish, elevated RSI warrants caution for new entries at current levels.
Support sits at $193.81 with resistance at $230.59.
