Shares of tech giant Amazon.com Inc (NASDAQ: AMZN) closed just above $230 on Wednesday evening, keeping intact the fresh uptrend that has been running since the start of August. While the broader market has been powering to fresh records, Amazon is still a few dollars shy of its own all-time high around the $240 mark, last touched in February.
As we recently flagged, there’s a risk that Amazon’s chart is forming a dangerous-looking triple top, which makes the coming weeks critical for the stock and its prospects. If shares can prove the bears wrong and decisively break through this stubborn level of resistance, there is a clear path into new highs.
