Amazon Stock Analysis: Bullish Momentum Points Toward All-Time High

Amazon.com Inc (NASDAQ: AMZN) is showing strong signs of renewed bullish momentum after rebounding from channel support. Following the company’s Q2 financial report, the market responded positively, with the Relative Strength Index (RSI) signalling an oversold condition on the 4-hour chart. This triggered a rebound in Amazon’s share price, which now trades at $231.28 (at the time of writing), and could be on course to retest its all-time high of $242.06.

Technical Indicators Support Bullish Trend

Amazon’s price action continues to respect a well-defined bullish channel of support and resistance. The recent rebound from support on Friday, 12 September confirms upward momentum remains intact.

• Support Levels: The nearest support sits at $219.35, aligning with the Fibonacci retracement zone. A breakdown below this level could see further downside pressure.

• Resistance Levels: On the upside, the next key resistance level is the all-time high (ATH) of $242.53. A break above this structure could open the door to accelerated gains.

If buyers maintain momentum, Amazon’s share price could climb towards the $250 psychological resistance level, which would mark a new milestone for the stock.

Outlook for Traders and Investors

• Short-Term View: Amazon remains within a bullish channel, with technical support reinforcing upside potential.

• Upside Targets: A confirmed breakout above $242.53 (ATH) could spark a momentum rally towards $250.

• Downside Risks: If price action fails to hold support, a retest of $219.35 may occur.

Investor sentiment also remains highly supportive. Many analysts forecast up to a 15% price increase, suggesting Amazon stock could maintain its bullish trajectory and possibly reach a new all-time high in the coming weeks.

Key Levels to Watch

• Support: $219.35

• Resistance: $242.53, $250 (psychological resistance)

Final Thoughts

Amazon stock is in a strong bullish setup, with technical indicators and analyst sentiment aligned for potential upside. As long as the price holds above the $219 support zone, traders and investors could see AMZN retest and surpass its all-time high, setting the stage for further growth.