Amazon.com Inc.: Gearing Up for Post-Holiday Momentum

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Written By: Lilly Mwogah

Dec 24, 2024, 13:48 GMT 13:48

Summary:

Amazon stock trades at $225.06, holding above key levels as holiday sales and Amazon Web Services growth fuel optimism.

Amazon.com Inc. (NASDAQ: AMZN) continues to shine this holiday season, with shares trading at $225.06 as of December 24, 2024. The retail and cloud giant has maintained its position as a market leader, capturing attention with strong holiday sales and the consistent growth of its Amazon Web Services (AWS) division. After being named a top pick for 2025 by analysts, Amazon remains a stock to watch as the year ends.

Amazon Chart Analysis

Support Levels:
- $220.58: Immediate support coincides with the 20-day EMA, which has been holding strong.
- $209.54: A critical support area tied to the 50-day EMA, providing stability during pullbacks.
Resistance Levels:
- $233.09: Key resistance, marking the recent high Amazon needs to clear to confirm further upside.
- $240: A psychological barrier that could open the doors for a more extended rally if breached.

Amazon Chart Analysis

Why Amazon Stands Out

Amazon’s success isn’t just about e-commerce—its leadership in cloud computing through AWS and its ability to adapt to consumer trends have made it a cornerstone of the tech sector. The company’s focus on innovation and operational excellence continues to drive its market dominance, even as the year-end approaches.

This post was last modified on Dec 24, 2024, 13:49 GMT 13:49

Written By: Lilly Mwogah

Lilly Mwogah is a finance writer specializing in cryptocurrencies, forex, and indices. Passionate about simplifying complex financial topics, she creates engaging content for a broad audience. With a solid grasp of market trends and economic indicators, her work informs and empowers readers to navigate the dynamic finance world.