**Amazon (AMZN) — Daily Chart Breakdown** *Friday 4/10*Amazon.com, Inc.NASDAQ:AMZNEthicalxTrader--- ## 🔍 Key Observations • AMZN is currently trading around **$238.38**, up strong on the session and reclaiming a major resistance shelf • Price has now pushed back above the **$236–238 zone**, which was a key rejection area previously • This move also comes after a strong recovery from the **$214–220 demand zone** • The daily is now pressing directly into the **descending bright blue trendline resistance** This is a very important technical spot. Using your chart legend, that **solid bright blue line is a multi-day / multi-week trendline**, and price is now backtesting it from underneath. This makes AMZN a **decision zone chart**, not a chase zone. --- ## 📈 Key Support Levels ### Immediate Support • **$237.99** → immediate breakout support • **$236.53** → first key support shelf • **$235.07** → near-term support • **$231.40 – 231.20** → stronger daily support zone • **$228.40** → major pivot support Below that: • **$224.86** • **$220.55 – 218.16** The most important level bulls need to defend is now **$236–238**. Holding that keeps breakout pressure intact. --- ## 📉 Resistance Levels • **$242.52** → immediate overhead resistance • **$244.22** → breakout confirmation level • **$247.32** → next major resistance • **$250.10** → key upside target • **$255.36 – 258.60** → major resistance zone / prior highs This is where the chart gets interesting. A clean break above the descending bright blue trendline and **$242.52** likely opens a move toward **$247–250 quickly**. --- ## 📊 EMA / Trend Structure • Price is back above the **50EMA on the daily** • The **200EMA remains below and rising** • Momentum has shifted bullish short term • However, price is still testing trendline resistance This is a strong recovery move, but it still needs confirmation. --- ## 🎯 Trading Plan ### Bullish Scenario Trigger Hold above **$236.50** and break **$242.52** Targets • PT1: **$244.22** • PT2: **$247.32** • PT3: **$250.10** • Stretch: **$255.36 – 258.60** This becomes a clean breakout continuation setup. --- ### Bearish Scenario Trigger Rejection at the trendline and loss of **$236** Targets • PT1: **$231.40** • PT2: **$228.40** • PT3: **$224.86** That would imply this was simply a trendline backtest rejection. --- ## 📌 Summary AMZN is at a major decision point. • strong recovery off demand • reclaim of daily resistance • now testing multi-week descending trendline resistance The most important level overhead is **$242.52**. A breakout there likely accelerates upside. A rejection there likely rotates price back into the **$231–228 support zone**.