Shares of Amazon.com Inc. (NASDAQ: AMZN) were trading just above $220 on Tuesday morning, continuing to retreat from a stubborn layer of resistance around $240. We’ve flagged this level before as a potential triple-top risk, and the longer Amazon fails to clear it, the louder the bears will be. This is a pivotal moment for a stock still only a few big green days away from its all-time highs.
It’s made all the more critical because the company’s banner Prime Deal Days event is only a few weeks away, and could provide precisely the kind of catalyst bulls need.
