Squeeze Play: AMZN Preps for Breakout at $270.64
The stock of Amazon.com Inc (AMZN) dropped 1.23% to close at $270.64 on May 31.
Key indicators suggest a mixed bias:
Moving Averages
Bullish EMA alignment intact with price above the 9-day at $268.89 and 21-day at $265.11.
Momentum
RSI at 59.7 is in neutral territory. MACD is bearish (5.37 vs signal 6.40).
Volatility
A 9-day TTM Squeeze suggests volatility is coiled and a breakout may be imminent.
The bullish trend is intact, but fading MACD momentum suggest waiting for a pullback.
Watch $260.93 as support and $276.55 as resistance.
