Amazon closed at $105.45 after losing 3.98% Friday

Friday at a glance: Jeff Bezos’s company found support around the $105.45 level, after closing Thursday at $109.82 and dropping by 3.98% Friday.

Despite being in the red so far in the current trading session, Amazon peaked above its 5 day Simple Moving Average around $106.11 — typically an early indicator of a new bullish trend beginning to emerge. Amazon could begin to recover as it approaches significant support, now $2.09 away from $103.36. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, it seems Amazon might start pointing upward in the short term.

On the other hand, positive performances could be seen by looking at other consumer discretionary stocks as Walt Disney traded at $102.5 after closing Friday's trading day at $99.93 (up 2.57%). Home Depot traded at $300.54 after closing Friday's trading day at $293.93 (up 2.25%). Tesla added 2.57% to its value, and traded at $164.31.

Furthermore, United States ISM Manufacturing PMI (Apr) is expected tomorrow at 14:00 UTC.

Amazon hit a significant low of $81.82 around 4 months ago, but has since recovered 34.22%.