$AMZN Faces a Key Test, $MSFT Targets $397
Both Amazon and Microsoft are trading near critical technical levels. Amazon is attempting to stabilize at support, while Microsoft is looking to build a base after a recent pullback.
Monday's price action should provide important clues on whether buyers are ready to regain control.
$Amazon.com(AMZN)$
Oversold. Volume profile points to a make-or-break spot here, with oscillators calling for a relief bounce.
On Monday, the price must stay here, since the closest support is at 234 (-1.85%). If there is a bounce, 240 is the resistance to watch.
$Microsoft(MSFT)$
After nailing a high probability bearish move for subscribers, the price could find consolidation considering oversold conditions.
Price action is bullish above 388 for Monday, targeting 394 and 397. If things go south, 384 is likely.
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