Bullish mood lifts Amazon to session high of $131.25

A quick look at Friday: an influx of buyers helped the tech and retail multifaceted giant to end the session higher around $130.36, while establishing a $128.95 to $131.25 session range Friday.

United States ISM Manufacturing PMI (Jun) is next today at 14:00 UTC.

Support/Resistance levels obtained from chart analysis indicate that although Amazon is appreciating today after rising as high as $131.25, price action is now slowing and consolidating around $1.06 below the $131.42 resistance level. Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Asset volatility analysis shows that Amazon's upper Bollinger Band® is at $131.62, this is a slight indication of a slowdown.

Overall, while Amazon has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

The market is looking forward to the release of new data: United States ISM Manufacturing PMI (Jun) is expected today at 14:00 UTC.

The stock has been trending positively for about 2 months. The tech and retail multifaceted giant now trading 27.96% above its 3-month low of $81.82.