Amazon pierces downward correctional trend line - Analysis - 16-01-2019

Amazon's stock rallied 3.55% in the last session, or 57.35 points, confirming the breach of the downward correctional trend line in the short term, with positive support from the 50-day SMA, as the stock vented off overbought saturation in the RSI. 

Therefore we expect more gains for the stock, as long as the support of 1595.15 holds on, targeting the resistance of 1778.34. 

Expected trend for today: Bullish