Amazon shareholders reacted negatively to the company's quarterly report, dropping quotes by almost 7%. Moreover, at the moment the share price was losing more than 11%, but double-digit prices attracted a lot of people who wanted to buy out the current drawdown.
The 100-102 range is the biggest support for Amazon shares: here are the highs of 2018 and 2019, as well as the lows of the current year. If buyers manage to seize the initiative, the first target will be to close the gap at 110.
And in the case of a steady transition of the share price into a double-digit area, the "bears" will have a wide field of opportunities to earn money on the continuation of Amazon's decline.
This content is for informational purposes only and is not intended to be investing advice.