I haven't done the fundamental analysis for Amazon, however, it has been in a strong uptrend for a while because a lot of people look to amazon as a longer term investment given that they allocate a lot of their capital into research and development, growing the company significantly over the past decade.
The chart:
In light blue, I have drawn the current uptrend for Amazon, and currently, price is hovering around this trendline. This is a region that is important to watch because violation of this trendline would mean that the uptrend is either over or at risk, which means that there is likely a consolidation to occur at this point. The green boxes are current support areas. There is a double top the second top is comprised of a possible head and shoulder top, and there is a light blue trendline which price has kind of broken out from. The price objective of the head and shoulder top is approximately 1450, however, there is strong support around that region. This area also consists of a tentative trendline which can be seen in green. However, if these regions of support are broken (1350) then the double top should be taken into consideration. However, it appears as amazon will be consolidating at this price region. As I would also like to mention that there is a significant divergence on the RSI but it still has not broken into the bearish region.
The chart:
In light blue, I have drawn the current uptrend for Amazon, and currently, price is hovering around this trendline. This is a region that is important to watch because violation of this trendline would mean that the uptrend is either over or at risk, which means that there is likely a consolidation to occur at this point. The green boxes are current support areas. There is a double top the second top is comprised of a possible head and shoulder top, and there is a light blue trendline which price has kind of broken out from. The price objective of the head and shoulder top is approximately 1450, however, there is strong support around that region. This area also consists of a tentative trendline which can be seen in green. However, if these regions of support are broken (1350) then the double top should be taken into consideration. However, it appears as amazon will be consolidating at this price region. As I would also like to mention that there is a significant divergence on the RSI but it still has not broken into the bearish region.