Amazon is indicated to open 8-9% higher around 140 after Earnings release as indicated on the daily chart with the dashed blue line.
If amazon does not collapse during the trading session the RSI will close back above 60 and could cancel the divergence it has been showing for a few weeks now.
If that scenario plays out there is more upside potential for Amazon in the coming weeks.
If closing above 136 Amazon would have broken the deadlock it’s been in for the past couple of weeks.
Resistance at around 144. A close above will point to higher levels. Possibly 165-167
If Amazon closes below 135 the opening gap that is set to be created today will be closed. If that occurs it is likely to jeopardize the Bullish scenario. Closing below 126 will destroy and reverse it the bullish picture