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Save your seatAMZN ran from about $240 in early April to the $278.56 52 week high on May 5 after a strong April 29 earnings report driven by 28% AWS growth and heavy artificial intelligence spending optimism.
A failure to hold $265 could see a pullback toward $255 to $250. Any slowdown in cloud demand, margin pressure from big capital spending, or weak Prime Day commentary would accelerate the downside.
If AMZN holds the $265 to $270 area, a retest of $278.56 is on the table. Clear that level on volume, and $285 is the next upside target, with $278.56 as the first hurdle.
We don't currently have information about Amazon.com Inc.'s earnings.