Is the bullish run coming to an end? Amazon closed at $129.33 (-0.63%)

Though in the midst of a 3 day uptrend, gaining a total of 3.6%, ($5.32), Friday's session suggests run might be coming to an end — grinding lower but with no clear-cut direction, Jeff Bezos’s company closed the session at $129.33 after forming a distinct $128.28 – $130.84 range.

Concerning technical analysis and more specifically, trend indicators, 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 $130.69 which indicates a further downward move may follow. Technical analysis shows that Amazon could begin to recover as it approaches significant support, now $1.2 away from $128.13. Dipping below could be an indication that further losses are ahead.

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

Amazon was not the only decliner in the consumer discretionary sector; Toyota lost 2.37% Friday and closed at $153.38. Starbucks went down to $98.34, losing 2.49% after it closed at $100.85 Friday.

Moreover, United States Consumer Confidence is projected to outperform its last figure with 104. It previously stood at 102.3; data will be released tomorrow at 14:00 UTC.

Furthermore, United States Building Permits is expected tomorrow at 12:00 UTC. United States New Home Sales (May) will be released tomorrow at 14:00 UTC.

The stock has been trending positively for about a month. Jeff Bezos’s company now trading 31.53% above its 3-month low of $81.82.