FXEmpire
03 Jun 2026, 20:52 UTC · 2h ago
Amazon.com (AMZN) Price Forecast: Double Top Breakdown Tests Support
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FXEmpire
03 Jun 2026, 20:52 UTC · 2h ago
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3 claims · impact-rated
Amazon (AMZN) has experienced a double top breakdown, signaling a transition from consolidation to a corrective phase. — A double top is a bearish reversal pattern that typically triggers selling pressure and suggests a trend change.
-0.60AMZN is currently testing support at the 50-day moving average and the 38.2% Fibonacci retracement level around $247.71. — Failure to hold this critical technical support level would likely accelerate the decline toward the 200-day moving average.
-0.30Key resistance for AMZN is now established in a cluster between $255 and $258, including the double top neckline. — These levels act as ceilings that limit potential bounces, reinforcing the bearish short-term outlook.
-0.20Ticker attribution
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The stock experienced a double top breakdown and is testing key support levels with a potential for deeper retracement.
Mentioned as falling in the context of a Nasdaq 100 decline.
[mutual] Mentioned together as part of the Nasdaq 100 price movement, implying competition in the large-cap tech sector.
[mutual] Mentioned together as part of the Nasdaq 100 price movement, implying competition in the large-cap tech sector.
[mutual] Mentioned together as part of the Nasdaq 100 price movement, implying competition in the large-cap tech sector.
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