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MarketBeat

Business

Sam Quirke

What Amazon's Chart Says a Week Before Earnings

Amazon MarketBeat

Amazon.com Inc. (NASDAQ: AMZN) is entering one of its most critical weeks of the year. With earnings due next Thursday, the stock is coiled just below its long-standing $240 ceiling—a level that has beaten every attempt by the bulls to break it since February. However, while the bears have repeatedly tried to drag it lower in recent weeks, so far they’ve failed.

Instead, Amazon has been quietly consolidating, holding its ground just 10% below all-time highs.

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