Checking for support in the 234.11 ~ 241.05 range

TradingView2026/04/12 05:15

By:TradingView

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(AMZN 12M Chart)
The important point is the one marked with a circle.

The trend may be determined by whether support is found near this important point, so you need to watch it carefully.

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(1M Chart)
Looking more closely, the key zones are:
1. 206.16 ~ 239.30,
2. Around 165.73,
3. 70.43 ~ 84.00.

To continue the stair-step upward trend, the price must rise above the 206.16 ~ 239.30 range and maintain the level.

If the price falls around 165.73, there is a possibility of a sharp decline, so you should prepare a response plan for this.

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(1W Chart)
Looking more closely,
the important zones are
1. 188.99 ~ 239.30,
2. Around 165.73,
3. 70.43 ~ 84.0.

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(1D Chart)
Since the current price is located in the first important zone, let's examine the 188.99 ~ 239.30 range.

Looking at the 1D chart,
High zone: 234.11 ~ 241.05
Low zone: 198.79 ~ 204.86
To continue the uptrend, the price must maintain a level above around 219.39.

Therefore, if it fails to rise above the peak level this time, we need to check if it finds support around 219.39.

Since the StochRSI indicator has currently entered the overbought zone, there is a possibility that the upward movement will be constrained.

Therefore, the key is whether it can break above the peak level and maintain the price.

As the OBV indicator has risen above the High Line, I believe it is highly likely to show an upward trend or consolidate until it falls back below the High Line.

Although the OBV indicator has risen above the High Line and is showing strong buying pressure, the fact that the StochRSI indicator is in the overbought zone restricts the rise; therefore, this should be interpreted as a possibility of rapid fatigue accumulating.

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What we need to monitor currently is:
1. Confirm whether support is found around the 234.11 ~ 241.05 range.

2. Check if the StochRSI indicator shows an upward trend after falling from the overbought zone. 3. Verify whether the channel formed by the Low Line to High Line of the OBV indicator transitions into an ascending channel.

By confirming the above conditions, you can ultimately proceed with a buy order when the price breaks upward through the 234.11–241.05 range.

If the above conditions are not met and the price falls below 219.39, there is a possibility of a sharp decline.

In this case, the key is to confirm whether support is found near the low point.

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Thank you for reading to the end.
I wish you a successful trade.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Checking for support in the 234.11 ~ 241.05 range

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