AMZN - failing at resistance

With the main market again weak, it was no surprise to see Amazon (AMZN) similarly weak. AMZN closed -2.8% @ $310. Key resistance in the 320s has held, and AMZN is vulnerable to further downside, at least to the $300 threshold, where the 50 day MA is also lurking.


AMZN, daily

AMZN, weekly

Summary

Amazon is perhaps the most bizarrely valued stock in the US equity market. Despite failing to make any decent profits for some years, the stock price just keeps on broadly rising.

There is no doubt it has a superb worldwide customer base, but simply put...AMZN is just not charging enough for its service/products.

The current profit margin remains marginally negative..which is frankly laughable considering they have annual sales of $61bn.

see key stats @ Yahoo! finance

--
Near term price action is certainly one of being rejected at long term trend/channel resistance. There should be very strong support around $280, if not the bigger $300 psy level. Only if AMZN breaks into the $260s - or lower, can equity bears start to consider a possibly bigger trend change. Until then...the primary trend remains very much to the upside...despite lack of profits.
-

*Q3 earnings are issued at the close of Oct'25