Amazon closes at $112.18 after gaining 1.81%

Today at a glance: Amazon rallied 1.81% and ended the session at $112.18.

Amazon's uptick comes amid good United States macroeconomic data released during the day — data for United States Crude Oil Inventories published yesterday at 14:30 UTC came out at 2.95 million, beating projections of -917,000 and showing improvement over the preceding figure of -1.28 million.

On the flip side, highly important Producer Price Index data from United States beat analyst expectations of 0.3% with a reading of 0.2%. Data from United States concerning Initial Jobless Claims was released today at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 242,000 to 264,000 this month.

Trend-focused traders would be interested to note that investors are seeking long positions as Amazon price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that Amazon's upper Bollinger Band® is at $111.83, this is a slight indication of a slowdown. Support/Resistance levels obtained from chart analysis indicate that Amazon could be slowing down soon as it approaches resistance at $113.48. Of course, crossing it might suggest further gains are ahead.

Notwithstanding Amazon's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

A look at other consumer discretionary stocks also showed bullish price action as Alibaba was up 5.96%. Tesla was up 2.1%.

Amazon went up today, yet these consumer discretionary stocks did not follow — Walt Disney crashes 8.73% today to close at $101.14.

The tech and retail multifaceted giant has recovered 34.67% since descending to a significant low of $81.82 around 4 months ago.