Amazon returns lower - Analysis - 08-11-2022

Amazon's stock (AMZN) returned lower in the intraday levels, while venting off oversold saturation in the RSI, while under dominance from sell-off forces, with the dominance of the main downward trend in the short term, coupled with negative pressure from the 50-day SMA.

Therefore we expect more losses, targeting the support of 85.30, provided it settles below 102.50. 

Expected trend for today: Bearish