Amazon Stock Faces Resistance Near $230 Amid Christmas Shopping Surge

Summary:
• Amazon stock trades at $224.69 after a strong December rally. Can AMZN sustain its momentum into 2025? Explore key levels and drivers.

Amazon.com Inc. (NASDAQ: AMZN) has been one of the strongest performers in the e-commerce and tech sectors this quarter, but the stock appears to be taking a breather. Currently trading at $224.69, Amazon is down slightly from Monday’s high of $230.00, though it remains well above key technical levels.

Amazon Stock Chart Analysis

• Current Price: $224.69
• Resistance Levels:
  • $230.00: Immediate resistance and the recent high; a breakout above this level could signal a move toward $240.
  • $240.00: A psychological level that could attract profit-taking.
• Support Levels:
  • $215.96: Short-term support, aligning with December’s breakout zone.
  • $200.37: Stronger support near November’s consolidation range.

Moving Averages:

• 20-Day EMA: $175.63 – Amazon is comfortably above this level, indicating strong bullish momentum.
• 50-Day EMA: $181.30 – Reinforces the longer-term upward trend.

Outlook

Can Amazon Sustain Its Rally? Although Amazon’s rally in December has been remarkable, the stock encounters difficulties as it nears important resistance levels. A rise above $230 might open the door for additional profits, yet wider market conditions and macroeconomic elements will greatly influence short-term momentum.

In the long run, Amazon’s varied income sources, ranging from online retail to cloud services, set it up for enduring growth. Investors will monitor updates regarding holiday sales numbers and fourth-quarter earnings results to assess the company’s direction as it approaches 2025.

Amazon’s recent results underscore the robustness of its business model and its capability to adjust to evolving market conditions.