Amazon Rally Stalls at $238–240 Resistance After Three-Day Surge
Amazon shares surged over three days to around $237, pushing into a downward-sloping resistance trendline from November and January and the $238–240 zone. A clear breakout above $240 would target prior highs near $255–260, while a rejection could send the stock back toward $220–225 support.
1. Recent Three-Day Surge
Amazon stock jumped over three sessions from around $225 to roughly $237, marking its strongest run since late March and pushing the shares back toward the top of a year-long trading range.
2. Resistance Factors
The stock is encountering two concurrent resistance levels: a downward-sloping ceiling defined by peaks in November and January, and a horizontal barrier between $238 and $240 where previous rallies have stalled.
3. Upside and Downside Targets
A decisive move above $240 would open the path toward all-time highs around $255–260, while failure to clear resistance could trigger a pullback toward support at $220–225, aligning with the 200-day moving average.