AMAZON @ 170
By looking at the larger structure of the stock its still showing that it has lots of room to move upside.
Stock recently fall from 201 to 151 and here 151 is dot 38.2% fib support level. Which makes it an important support to watch. If AMAZON does not go below 151 on daily closing basis then it can move upside towards 375 levels as next upside rally. Whereas if it breaks 151 then for short term its trend turns sideways to weak and it can fall for 122 to 95 levels & anywhere from here its moves higher for 375 levels.
So 151 is the key level for AMAZON if this does not break and stocks move higher above recent swing high of 201 then AMAZON too support Nasdaq to move higher.
