Amazon Daily Update : 200 MA Support Zone

Amazon (AMZN) is currently testing the 200-day moving average (MA), a critical long-term support level, with signs of a potential bounce. The RSI is at 30.78, indicating oversold conditions that could suggest an imminent reversal, while the price is also touching the lower Bollinger Band, signaling statistical extremes and potential support. Additionally, a “W” bottom pattern appears to be forming, which could confirm bullish momentum if the price breaks above the $213 resistance level.