Take a look at this Amazon share price level after the company has issued Soft Outlook

Amazon (AMZN) fluctuated on Friday after e-commerce and cloud computing giant between winning and losses a cautious view, as they have the economy unsafe and compensate for strong quarterly results.

During the profit for the company's company, CEO Andy Jassy announced that the company had not seen any significant effects of tariffs that determine the demand from consumers or the sellers of product prices, warned that this could possibly change. He also said that Amazon has remained proactive to keep prices low.

The Amazon shares had lost 13% since the beginning of the year to Thursday and fell by 22% of their record high in early February. The stock rose by about 1% on Friday in the early afternoon by $ 192 and earned itself from losses earlier at the meeting.

In the following we break up the technical data in the chart of Amazon and show the most important price levels after receiving that is worth monitoring.

Rising wedge in focus

Amazon shares have consolidated in an increasing wedge since the low point in the last month. In recent times, the price has gathered on the top trend line of the Wedge and the 50-day average (MA), a step that coincides with the relative strength index (RSI) that leads back into the bullish area.

Let us identify several important support and resistance levels in Amazon from Amazon, which will probably attract the attention of investors.

To monitor main support levels

With a decisive breakdown under the lower trendliner of the rising wedge pattern, the shares fell to around 170 US dollars. This area in the table would probably support near the late April low and the lean of a small withdrawal to the 200-day MA last August.

The sale under this level brings less support with 152 US dollars. Bargain hunters were able to search for buying opportunities near the sale of early August in August in August. This region also coincides with a projected beam pattern after the downward goal, which extracts the trend that preceded the rising wedge and re -positioned it from the upper trend line of the pattern, whereby speculation is speculated where the shares can be directed when a continuation of the lower movements.

To observe important resistance levels

In the event of an outbreak over the top trend line of the rising wedge pattern, the stock -overhead resistance would probably happen near 199 US dollars. In this area near a horizontal line, which connects a number of corresponding trading activities in the table until the beginning of July last year, the stocks can assume the sale of the pressure in this area.

After all, an optimal step in Amazon shares could drive a higher move to 216 US dollars. Investors who bought at lower levels can see this as a high probability area to give up sales orders near the November tip of the share and in January trough.

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Until the date on which this article was written, the author has none of the above securities.