Investing.com-Amazon (Nasdaq :), Online Retail DIV, shows a positive technical setting that favors the climb in the 290s, according to the breakthrough from a large base, which was built from 2021 to 2024, according to the Bank of American Technical Strategies.
In addition to the breakthrough, a bull pattern of flags was observed from December 2024 to January 2025, which further supports this positive technical setting. The sample is a common indicator used by traders to predict potential future prices upwards.
The key levels of support for Amazon’s shares were identified at 215 and between 201 and 195. These support levels were further reinforced by the growing 13-, 26- and 40-week moving average (MA) to 217, 199, respectively, 194.
In the world of technical analysis, moving average are used to smooth out price trends by filtering “noise” from random short -term price fluctuations. 13-, 26- and 40-week ma often used indicators that give insight into long-term trends of stock movements.
In the case of Amazon, these growing MAs indicate the potential for further upward movement of the shares’ price, supporting the level of support and confirming the positive technical setting.
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