1. AMZN shares rose over 9.5% due to earnings. 2. Traders seek to confirm if resistance turns into support at $242. 3. Sell remorse may drive buying interest among earlier sellers. 4. Previous resistance around $212 was successfully converted to support. 5. Traders are closely monitoring AMZN's price movements.
The 9.5% rise shows strong bullish sentiment after earnings, potentially attracting more buyers, similar to former high rallying instances in the past.
The article discusses immediate trading trends and behaviors that can significantly impact stock prices. The focus on psychology over fundamentals reflects short-term trader behaviors that can affect AMZN's volatility.
The quick psychological shifts from traders are likely to create volatility; immediate buying pressure can drive prices up in the short term.