Shares of Amazon are higher by about $3.50, or 1.66%, at $215.25. The upside momentum was kickstarted by bullish comments from CEO Andy Jassy, who said AI could drive AWS revenue to $600 billion by 2036, doubling the prior $300 billion target. The remarks have helped re-ignite the AI narrative and underpin today’s bid.
From a technical perspective, the stock experienced a sharp correction earlier this year, falling from a January high near $250 to a February low around $200 — roughly a 20% decline. Since then, price action has been choppy but with a gradual upward bias marked by higher lows, signaling improving sentiment even as upside momentum has been limited.
In the last two trading sessions, Amazon has pushed back above its converging 100- and 200-hour moving averages, currently at $211.37 and $209.55. That shift is notable, as it tilts the near-term bias more in favor of buyers. With the stock now trading near $215.50, traders leaning bullish would likely define risk against the 200-hour moving average near $209.55 — about $6 lower, or roughly 2.7% downside risk.
On the topside, further gains would need to build on this technical base, with key resistance levels (outlined in the video) serving as checkpoints to confirm that buyers are gaining more control.
Of course, broader market dynamics remain a key variable. Geopolitical developments — particularly any easing of Middle East tensions — could help reaccelerate the AI-driven rally theme. For now, Amazon offers a technically defined setup where risk is clear and the bias is cautiously tilting higher.
