Amazon collects profits - Analysis - 20-10-2021

Amazon's stock declined 0.08% in the last session on profit-taking, while gathering momentum to help it rise anew, as the stock vents off overbought saturation in the RSI, settling at 3,444.15, amid positive support from the 50-day SMA, while hurt by piercing the downward correctional trend line. 

Therefore we expect the stock to return higher, targeting the first resistance at 3,548, provided it holds above 3,389.

Expected trend for today: Bullish