Amazon (AMZN:NASDAQ)
Technical charting analysis: Amazon shares have rallied strongly since the peak of the pandemic, benefiting from online spending and expansion of its various businesses.
Over the last year the stock has been more or less sideways, mostly trading between $2900 to $3700. We can see the stock was oversold late January hitting a 12-month low of $2707, and this highlights an attractive entry point, with a stable resistance level of $3180 which has been supported a number of times over the last 8-months. Also, over the short-term Amazon does appear overvalued, and over bought above the $3700 level.