Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>AMZN stock price gained 5% in after hours indicating a gap-up open.&nbsp;</a></li>
 <li><span>2</span> <a>Amazon stock price trying to sustain above the 200-day EMA.&nbsp;</a></li>
 <li><span>3</span> <a>Amazon.com, Inc. beats EPS as well as revenue estimates in quarterly earnings.</a></li>
</ul>
<p>Amazon.com, Inc. – AMZN stock price reacted positively to its earnings and stock gained 5% in after hours. It is likely to open a gap-up near $125.00 in the regular session.&nbsp;</p>
<p>Amazon stock price corrected 18% from its 52-week high and formed a bearish pattern. But the recent up move by the bulls will positively impact the sentiment of its long-term investors.&nbsp;</p>
<p>In mid-October, AMZN stock price tried to climb above the 50-day EMA to reverse the trend upward. However, sellers were active and did not let the price hold the higher levels. Later, it began to decline and eroded the short-term gains.&nbsp;</p>
<p>Sellers were aggressive and succeeded in pulling the prices below the 200-day EMA. But the quarterly earnings favor the bulls and prices are likely to show a bounce.&nbsp;</p>
<p>Amazon.com Inc. released quarterly results on October 26, 2023, after the bell. So, the price will react to its earnings in today’s regular session.&nbsp;</p>
<p>Amazon reported an EPS of $0.94 vs the estimate of $0.585 which is 60.58% more than estimates. Moreover, the company also succeeded in beating revenue estimates by 1.12%. So, investors are happy and the stock price displays the confidence of investors.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-will-amzn-stock-price-reverse-upward-strong"><strong>Will AMZN Stock Price Reverse Upward?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/IQzKf7xZ4L-hAtLiAjQIxHJF13htOx6PgC-7PKalz1jHVg52eFTPClN-aLr4P7DCrtoWRkD6vZqre3kLVDsyLKxWwiTxO5-ueF3_Pg4paaxeN9eT31Whzjbyduw3bOBYflQ9FI4rlEHsXoYwr2bhiXA" alt="AMZN Stock up 5% After Hours; Amazon Inc Beats EPS by 60.58%">
  <figcaption class="wp-element-caption">
   NASDAQ: AMZN daily chart by <a href="https://www.tradingview.com/x/LPCcDzAE/" rel="noopener noreferrer nofollow">Tradingview</a>
  </figcaption>
 </figure>
</div>
<p>AMZN stock price may halt the downfall near $119.00 and is likely to show a pullback rally in the coming week. However, it will be interesting to see whether the buyers can hold the higher levels or not.&nbsp;</p>
<p><a href="https://www.thecoinrepublic.com/2023/10/21/amazon-com-is-amzn-stock-price-ready-for-a-rebound-from-124/" rel="noopener noreferrer nofollow">Amazon</a> stock price may give another attempt to regain the 50-day EMA. But $134.60 will likely act as a strong hurdle for bulls. Until the $134.60 hurdle gets broken, it is too early to say that the trend has reversed upward.&nbsp;</p>
<p>The technical analysis suggests that the reaction bounce in AMZN <a href="https://www.thecoinrepublic.com/2023/10/21/amazon-com-is-amzn-stock-price-ready-for-a-rebound-from-124/" rel="noopener noreferrer nofollow">stock price </a>looks temporary and the price might face rejection at higher levels.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-will-amazon-stock-price-consolidate-strong"><strong>Will Amazon Stock Price Consolidate?</strong></h3> 
<div class="tradingview-widget-container">
 &nbsp;&nbsp; 
 <div id="tradingview_a1024"></div> &nbsp;&nbsp; 
 <div class="tradingview-widget-copyright"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> &nbsp;&nbsp; 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp; 
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NASDAQ:AMZN",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "light",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;RSI",

    "STD;Supertrend"

  ],

  "container_id": "tradingview_a1024"

}

  );

  </script>
</div> 
<p>Amazon stock price may spend some time inside the consolidation range between $113.00 to $134.00. The next direction will be visible when buyers or sellers succeed in breaking either side of the range.&nbsp;</p>
<p>The price action shows that the possibility of the upward range expansion is low as the broader market is witnessing a sell-off. The RSI at 34 is near the oversold territory and the MACD curve also slopes down; indicating weakness.&nbsp;</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>Amazon.com Inc. – AMZN stock price is up by 5% in the after-hours session. The stock is expected to open a gap up near $125.00. However, it will be interesting to see whether the buyers can give follow-up momentum or not.&nbsp;</p>
<p>The analysis suggests that Amazon stock price may show a temporary bounce but until it breaks the $134.60 level, the trend remains down.&nbsp;</p>
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5>
<ul>
 <li>Resistance levels: $134.60 and $145.91</li>
 <li>Support levels: $113.86 and $110.00</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

AMZN Stock up 5% After Hours; Amazon Inc Beats EPS by 60.58%

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