Amazon stock price is moving down under a falling parallel channel.
The $80 level is seen as the next major support level.
Sellers have an important defense zone at $100.
The price of NASDAQ:Amazon (AMZN) rebounded in the early trading session following the letter dated December 23. As a result, the purchasers successfully closed the day price at $85.25 with a 1.74% gain. This positive correction occurred as global markets finished the weekend marginally higher.
Amazon’s stock price has been one of the best-performing stocks in the last decade, but 2022 has been a nightmare for the digital powerhouse. Revenue growth has reached an all-time low, and the company just announced the layoff of 10,000 corporate personnel.
However, Amazon share price is again trending towards affordable prices. In fact, after recording almost 49% loss till date, the stock valuation shows an indicator of more downtrend due to its latent price pattern.
Will Inflation Data Affect Amazon Stock Price Trend Next
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